Stocks
Visa Stake Soars as Envestnet Increases Holdings
Financial services company Envestnet Portfolio Solutions Inc. has significantly increased its stake in Visa Inc., according to recent filings. The firm now holds $52.63 million worth of shares, up from an initial investment by a considerable margin.
Envestnet Portfolio Solutions Inc. acquired 27,224 additional shares of Visa during the second quarter, representing a 21.6% increase in its holdings. This move comes on the heels of similar investments made by other institutional investors and hedge funds.
The majority of these firms have seen significant gains in their stakes, with XXEC Inc.'s holding increasing by an astonishing 153,118.8%. Norges Bank also invested a substantial $5.88 billion in Visa during the fourth quarter.