Hedge Funds Pouring into APPL
Hedge funds are piling onto the stock in APPL, a stock analysis for Apple Inc., an American multinational corporation headquartered in Cupertino, California.
Over
the second quarter of 2014 hedge funds have purchased $855 million in
new positions in Apple, giving AAPL the second highest level of new
buying activity among S&P 500 stocks.
During
the first three months of the year, hedge funds were buying and selling
shares of AAPL at a rapid pace, ranking Apple as both the second
biggest buy, and second-biggest sell among hedge funds in the first
quarter. In the rankings for the second quarter of 2014 though, Apple
didn’t even make the list of top 10 stocks most sold by hedge funds.
Taking
the number one spot of most purchased stock was Allergan Inc which saw
hedge funds buy $1.42 billion in new positions, after Valeant
Pharmaceuticals attempted a $53 million hostile takeover of the Botox
maker. Also seeing heavy buying activity last quarter Netflix,
MasterCard, and Comcast, while Verizon and Time Warner were two of the
most sold stocks.
Source: Cult of Mac
