Stocks
IBM Share Sale Sparks Hedge Fund Rotation
Nations Financial Group Inc. IA ADV has reduced its stake in International Business Machines Corporation (NYSE:IBM) by 37.1% in the second quarter, according to a recent Form 13F filing with the SEC.
The fund sold 8,589 shares of IBM's stock during the period, leaving it with 14,566 shares worth $4,096,000 at the end of the most recent reporting period.
This is not an isolated case; other hedge funds have been actively buying and selling shares of IBM in recent quarters. For instance, Norges Bank acquired a new position in IBM's stock in the fourth quarter valued at approximately $2,446,429,000.