Pinnacle West Dives into Apple with New Investment
Pinnacle West Asset Management Inc. has made a new investment in Apple Inc., buying 19,935 shares of the iPhone maker's stock valued at approximately $5,768,000.
The institutional investor bought this new position in the second quarter, according to its most recent Form 13F filing with the SEC.
Apple makes up about 4.0% of Pinnacle West Asset Management Inc.'s portfolio, making it the stock's largest holding.