NS Partners Ltd Trims Apple Stake with $149 Million Sale
NS Partners Ltd has adjusted its position in Apple Inc. (NASDAQ:AAPL) by selling 15,191 shares during the second quarter, according to a recent filing with the Securities & Exchange Commission.
The institutional investor owned 518,312 shares of Apple's stock after the sale, representing about 6.4% of its portfolio and making it the company's third-largest holding. The value of NS Partners Ltd's holdings in Apple was approximately $149.98 million at the end of the reporting period.
The sale is part of a broader trend in which institutional investors have been buying and selling shares of Apple. Prospect Hill Management LLC, for example, bought a new stake in Apple worth around $146.37 million during the second quarter, while Wealthfront Advisers LLC acquired a new position in Apple valued at about $482.39 million.
As of the most recent reporting period, 67.73% of Apple's stock is owned by institutional investors.