NVIDIA Sees Surge in Institutional Support Amid AI Boom

Modern Wealth Management LLC has increased its stake in NVIDIA Corporation (NASDAQ:NVDA) by 19.5% in the first quarter, according to its latest SEC filing.

The fund acquired an additional 36,658 shares of NVDA during the quarter, bringing its total holdings to 225,035 shares worth $39,550,000 as of March 31st.

This is not an isolated case; several other hedge funds have also boosted their stakes in NVIDIA. State Street Corp, for example, increased its holdings by 1.2% during the fourth quarter and now owns a staggering 991,480,489 shares valued at $184,911,111,000.

NVIDIA has been making headlines with its impressive financials and strategic partnerships. The company declared a quarterly dividend of $0.25 on June 26th, which represents a positive change from its previous quarterly dividend of $0.01.