Pavion Blue Capital's Big Bet on American Express

Pavion Blue Capital LLC has acquired a new position in shares of American Express Company (NYSE:AXP) worth approximately $9.55 million, according to its most recent disclosure with the Securities & Exchange Commission.

The fund purchased 28,239 shares of the payment services company's stock during the second quarter, making it AXP's 5th biggest position in Pavion Blue Capital LLC's investment portfolio, which comprises about 3.9% of its holdings.

Other institutional investors and hedge funds have also modified their holdings of American Express recently. BlackRock Inc., for example, purchased a new position worth $14.21 billion during the second quarter, while Norges Bank acquired a new position valued at $2.46 billion in the fourth quarter.