Quantitative Investment Management Bets Big on Nike
Quantitative Investment Management LLC (QIM) has acquired a new stake in Nike Inc. ($NKE), according to its recent SEC filing. The firm purchased 59,915 shares of Nike's stock in the second quarter, valued at approximately $2,459,000.
The acquisition is part of a broader trend of institutional investors increasing their holdings in Nike. In total, 64.25% of Nike's stock is currently owned by hedge funds and other institutional investors.
Nike has also seen changes among its executives, with CFO Matthew Friend selling 2,463 shares of the company's stock on August 5th. The sale was part of a pre-arranged Rule 10b5-1 trading plan.