Pinnacle Associates Cuts NVIDIA Stake Amid Continued Institutional Support

Pinnacle Associates Ltd., an institutional investor, has revealed its latest moves in NVIDIA Corporation (NVDA) stock. The company has cut its stake in shares of NVDA by 0.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 954,703 shares of the computer hardware maker's stock after selling 4,122 shares during the period.

NVIDIA accounts for about 2.1% of Pinnacle Associates Ltd.'s portfolio, making it its 6th biggest position. Pinnacle Associates Ltd.'s holdings in NVIDIA were worth $191,026,000 as of its most recent filing with the SEC. This represents a significant holding for the company and is likely to impact the market's sentiment towards NVDA.

Other institutional investors have also made moves in NVDA stock. Summit Wealth Partners LLC lifted its position in NVDA by 1.9% during the second quarter, while Check Capital Management Inc. CA raised its stake in shares of NVDA by 45.3%.