IBM Stake Increases as Hedge Funds Bet Big on Tech Giant
Exchange Traded Concepts LLC has increased its stake in International Business Machines Corporation (IBM) by 16.2% during the second quarter, according to a recent SEC filing. The company now owns 44,338 shares of IBM's stock after acquiring an additional 6,184 shares during the period.
The institutional investor's holdings in International Business Machines were worth $12,468,000 as of its most recent filing with the SEC. This is not an isolated incident, as several other hedge funds have also increased their positions in IBM over the past few quarters.
VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in shares of International Business Machines by 424.6% in the fourth quarter and now owns 260,740 shares valued at $77,234,000. Assetmark Inc. boosted its position in shares of International Business Machines by 24.8% during the first quarter.
The global hyperscale data-center market is expected to expand from $162.79 billion in 2024 to $608.54 billion by 2030, driven by AI, machine learning, and cloud-computing demand. This growth supports IBM's infrastructure, consulting, and hybrid-cloud opportunities.