Stocks
Novem Group Boosts Stake in Merck & Co.
Novem Group, an investment fund, has significantly increased its stake in Merck & Co., Inc. (NYSE:MRK). According to a recent SEC filing, Novem Group now owns 56,016 shares of Merck's stock, representing a 16.1% increase from the previous quarter.
The value of Novem Group's holdings in Merck is approximately $7.20 million, accounting for about 0.7% of its portfolio. This makes Merck the 25th largest position in Novem Group's investment portfolio.
Other institutional investors and hedge funds have also made significant changes to their positions in Merck during the second quarter. CV Advisors LLC bought a new stake worth around $1.29 million, while Summitry LLC increased its holdings by 6.6%.