NewSquare Capital Boosts Stake in International Business Machines

NewSquare Capital LLC increased its stake in International Business Machines Corporation (NYSE:IBM) by 6.0% during the second quarter, according to a recent SEC filing. The fund now owns 50,136 shares of IBM's stock, which is valued at $14,099,000.

This is just one example of institutional investors buying more of IBM's stock. In total, $2,446,429,000 was invested in the company by Norges Bank during the fourth quarter. Capital World Investors also increased its holdings in IBM by 29.2% during this time period.

IBM's stock price has been affected by various news and announcements recently. The company's quantum computing milestone was a positive development, but BTIG cautioned that it does not yet demonstrate a commercially scalable system. This tempered investor enthusiasm and contributed to pressure on IBM's shares.