Bank of America Corp DE increased its holdings in Carvana Co. by 372.0% during the second quarter. The institution acquired an additional 1,412,188 shares according to a new SEC filing.
This purchase brings the bank's total ownership to 1,791,844 shares. The total stake is valued at approximately $117.94 million.
Bank of America now controls roughly 0.16% of the online auto retailer's total shares. Other hedge funds and institutional investors also reported recent smaller purchases of the stock.