Legacy Financial Strategies LLC significantly decreased its holdings in AbbVie Inc. (NYSE: ABBV) during the third quarter, according to its latest 13F filing with the Securities and Exchange Commission. The firm sold 12,664 shares, reducing its position by approximately 66.6%. Following the sale, Legacy Financial Strategies LLC held 6,359 shares of AbbVie stock.
This adjustment reflects a notable shift in the fund’s investment allocation for the quarter.
**Why this matters**
Changes in institutional holdings can signal shifts in market sentiment or portfolio strategy. A substantial reduction like this may indicate the fund’s reassessment of AbbVie’s outlook or a rebalancing of its overall investment portfolio. Investors often monitor such moves to gauge confidence levels among professional money managers.
Source: NewsData