Stocks
Keebeck Wealth Acquires Significant Stake in Amazon.com
Keebeck Wealth Management has made a significant investment in Amazon.com Inc. (NASDAQ:AMZN) by acquiring 52,348 shares of the e-commerce giant's stock during the second quarter.
The firm purchased these shares for approximately $12,477,000, valuing Amazon at about 1.2% of Keebeck Wealth Management's overall investment portfolio.
Amazon.com is now Keebeck Wealth Management's 10th largest position.
This investment is part of a larger trend in which institutional investors have been increasing their stakes in Amazon.com. Auto Owners Insurance Co, for example, lifted its holdings in the company by 27,376.7% in the fourth quarter.