Saudi Central Bank Boosts Stake in Disney Amid Market Volatility

The Walt Disney Company (NYSE:DIS) has seen its stock price rise following the news that the Saudi Central Bank increased its position in DIS by 88.2% during the second quarter.

The bank now owns 124,006 shares of Disney's stock, which are worth $11,936,000 as of its most recent SEC filing.

This is not an isolated move, as several other institutional investors and hedge funds have also modified their holdings in Disney. J. Stern & Co. LLP, for example, raised its holdings in DIS by 9,060.1% in the fourth quarter, purchasing an additional 37,719,041 shares.

Despite this increase in ownership, Disney's stock price has still been affected by market rates weighing on long-duration growth stocks, particularly streaming and media companies.