MassMutual Trims Amazon Stake Amid Institutional Buying

MassMutual Private Wealth & Trust FSB, an institutional investor, has significantly reduced its stake in Amazon.com, Inc. (NASDAQ:AMZN) by selling 16,150 shares during the second quarter. The company now owns 430,794 shares of Amazon's stock, making it its sixth-largest holding, worth approximately $102.67 million.

This reduction accounts for a 3.6% decrease in MassMutual's position in Amazon.com. As of the end of the most recent reporting period, institutional investors owned 72.20% of Amazon.com's stock.

Several other hedge funds have also made adjustments to their stakes in Amazon.com during the same period. Gryphon Financial Partners LLC increased its holdings by 7.5%, while First Citizens Bank & Trust Co. boosted its holdings by 1.7%. Narwhal Capital Management grew its position by 2.3%, and Arrowstreet Capital Limited Partnership expanded its stake by 21.0%.