Montchanin Asset Management Takes Apple Stake

Montchanin Asset Management LLC has acquired a new stake in Apple Inc., purchasing 60,254 shares of the iPhone maker's stock valued at approximately $15.29 million.

The institutional investor's acquisition brings Apple to account for about 15.5% of Montchanin Asset Management LLC's portfolio, making it the firm's largest position.

This move is part of a broader trend in which several other hedge funds have recently added or reduced their stakes in Apple, with Vanguard Group Inc., State Street Corp, Geode Capital Management LLC, and Morgan Stanley increasing their positions in the company.