Hedge Fund Boosts Stake in Amazon by 9.4% in First Quarter

AR Asset Management Inc., a hedge fund, has increased its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 9.4% during the first quarter of this year. The fund now owns 37,655 shares of Amazon's stock after purchasing an additional 3,230 shares.

The investment in Amazon comprises about 1.5% of AR Asset Management Inc.'s portfolio, making it the company's 20th largest holding. According to its most recent filing with the Securities and Exchange Commission, the value of these holdings is approximately $7.84 million.

This isn't an isolated move by AR Asset Management Inc., as several other hedge funds have also added to or reduced their stakes in Amazon during the same period. For instance, Red Crane Wealth Management LLC boosted its stake in Amazon by 2.3% during the first quarter, while Robinson Smith Wealth Advisors LLC grew its holdings by 0.7%. Sfam LLC increased its stake in Amazon by 3.4%, and Financial Connections Group Inc. raised its holdings by 2.6%.