Wedbush Fund Advisers LLC Boosts Stake in Apple Inc.

Wedbush Fund Advisers LLC has increased its stake in Apple Inc. (NASDAQ:AAPL) by 5.4% during the second quarter, according to a recent disclosure with the Securities and Exchange Commission (SEC). The fund now owns 183,300 shares of Apple's stock, which represents about 4.7% of Wedbush Fund Advisers LLC's portfolio.

The company's holdings in Apple were worth $53,040,000 as of its most recent filing with the SEC. This is not an isolated event, as other institutional investors have also made changes to their positions in Apple during the second quarter.

Ascentis Wealth Management LLC raised its holdings in shares of Apple by 822.7% in the second quarter, while Basso Capital Management L.P. acquired a new position in Apple worth about $88,000. Longfellow Investment Management Co. LLC and Lifetime Wealth Management P.C. also purchased new positions in shares of Apple during the period.

Apple's stock price has been on an upward trend, with a 50-day simple moving average of $321.56 and a 200-day simple moving average of $297.37. The company's revenue for the quarter was up 16.4% compared to the same quarter last year, and its net margin was 27.62%. Apple also announced a quarterly dividend of $0.27 per share, which represents a yield of 0.3%.