Stocks
Renaissance Cuts Stake in Walmart by 97%
Renaissance Technologies LLC significantly reduced its stake in Walmart Inc. (WMT) by 97% in the first quarter, according to a recent SEC filing.
The institutional investor sold 300,037 shares during the quarter, leaving it with just 9,223 shares of Walmart's stock.
This move is part of a larger trend where institutional investors are adjusting their holdings in various companies. Vanguard Group Inc., for example, boosted its stake in Walmart by 1% during the fourth quarter and now owns over 439 million shares valued at nearly $49 billion.