NVIDIA Stake Adjusted by Spirit of America Management Corp NY Amidst Growth Prospects
Spirit of America Management Corp NY has made adjustments to its stake in NVIDIA Corporation (NASDAQ:NVDA). In the second quarter, the fund sold 4,100 shares, reducing its ownership by 2.5%. After the sale, Spirit of America Management Corp NY held 158,020 shares of NVIDIA's stock, worth $31,618,000.
NVIDIA is a significant holding for Spirit of America Management Corp NY, accounting for about 5.1% of its investment portfolio. The fund's holdings in NVIDIA make it the company's second-largest holding. Other investors have also made moves in the company, with some buying and selling shares during the quarter.
NVIDIA has been making headlines lately due to its growth prospects. Analysts expect a strong quarter for the company, with consensus revenue near $92 billion and approximately 95% year-over-year growth. However, investors are also concerned about potential customer resistance to price increases for next-generation AI servers, as well as regulatory risks.