Hedge Fund Auxano Advisors Takes Position in IBM Amid Industry Challenges

Auxano Advisors LLC has purchased a new position in International Business Machines Corporation (IBM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,075 shares of IBM's stock, valued at approximately $865,000.

This is not an isolated investment decision as several other hedge funds have also recently added to or reduced their stakes in the company. For instance, Basepoint Wealth LLC acquired a new position in IBM during the fourth quarter worth $25,000, while Cornerstone Financial Management LLC acquired a new stake in shares of IBM in the 4th quarter worth $28,000.

Despite these investment decisions, Institutional investors and hedge funds still own only 58.96% of IBM's stock.