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Mitsubishi UFJ Asset Management Doubles Down on Amazon

Guavy AI Editorial Team
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AMZN
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Mitsubishi UFJ Asset Management Co. Ltd., a major institutional investor, has significantly increased its stake in Amazon.com (NASDAQ:AMZN).

In the second quarter, Mitsubishi UFJ Asset Management Co. Ltd. purchased 27,823,553 shares of Amazon's stock, valued at approximately $6,631,466,000.

This acquisition represents about 3.7% of Mitsubishi UFJ Asset Management Co. Ltd.'s portfolio and makes it the company's fourth-largest holding.

The news comes as Amazon continues to expand its lead in e-commerce and artificial intelligence (AI) markets.

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