Stocks
Iyo Bank Invests Heavily in Apple as Hedge Funds Flock to iPhone Maker
Iyo Bank Ltd., a financial institution, has invested in Apple Inc. (NASDAQ:AAPL) by purchasing 84,350 shares of the iPhone maker's stock during the second quarter. This new investment is valued at approximately $24,408,000 and accounts for about 7.4% of Iyo Bank Ltd.'s portfolio.
The purchase price of Apple Inc. represents a significant portion of Iyo Bank Ltd.'s holdings, making it its third-largest position in the company's portfolio.
This is not an isolated instance, as other hedge funds have also recently modified their holdings of Apple Inc., including TRB Wealth Management LLC, Sumitomo Life Insurance Co., William Blair Investment Management LLC, Avanda Investment Management Pte. Ltd., and Concord Investment Counsel Inc.