Jennison Cuts Stake in MRK as Share Price Hits New High
Jennison Associates LLC has significantly reduced its stake in Merck & Co., Inc. (NYSE:MRK) by selling 3,520,379 shares during the second quarter.
The fund now owns 2,728,958 shares of MRK's stock after lowering its position by 56.3%.
This represents about 0.11% of Merck & Co., Inc.'s outstanding shares and is valued at $350,671,000 as per the most recent SEC filing.