Home Depot Sees Surge in Institutional Investor Interest
The Home Depot, Inc. has made headlines after several institutional investors acquired new stakes in the company during the second quarter. Perennial Investment Advisors LLC bought 3,478 shares of Home Depot's stock valued at approximately $1.23 million.
This is not an isolated incident as other big-name investors have also been buying into the home improvement retailer. BlackRock Inc. acquired a new position in Home Depot during the second quarter valued at about $28.77 billion. Bank of America Corp DE bought a new position in shares of Home Depot in the same quarter worth around $5.78 billion.
Home Depot's stock performance has been impressive, with shares opening at $319.70 on Wednesday. The company's 50-day simple moving average is $340.90 and its 200-day simple moving average is $337.53.