iA Global Asset Management Inc. Sells Majority of McDonald's Holdings

iA Global Asset Management Inc., a institutional investor, sold 14,122 shares of McDonald's Corporation (NYSE:MCD) in the second quarter. This move reduced iA Global Asset Management Inc.'s holdings by 92.5%. The company now owns 1,150 shares of McDonald's stock.

The sale was worth $311,000 at the end of the reporting period. McDonald's stock opened at $272.61 on Friday and has a market capitalization of $192.91 billion.

iA Global Asset Management Inc.'s actions are just one part of the larger story of institutional investor activity in McDonald's shares. Several other hedge funds have also bought and sold shares of MCD, including Ascentis Wealth Management LLC, which increased its stake by 4,008.8% during the second quarter.