Eli Lilly and Co (NYSE:LLY)’s large shareholder, Lilly Endowment Inc., disposed last September 3rd of 200,000 shares of Common Stock through an open market transaction. These were sold at an average weighted price of $63.99, for a total value of $12,798,000. Following the filing, this shareholder owns 133,140,804 shares of the $71.74 billion market cap company.
In the same way, two of Eli Lilly and Co (NYSE:LLY)’s biggest hedge fund investors on record have decided to decrease their exposure to the discoverer, developer, manufacturer and seller of pharmaceutical products. Jim Simons’s fund, Renaissance Technologies –owner of over 3.34 million shares- has done so by a 37%, while David E. Shaw’s D E Shaw –owner of over 1.9 million shares- has done it by a 14%. However, Phill Gross and Robert Atchinson’s fund, Adage Capital Management –owner of over 2.6 million shares- has increased its participation in Eli Lilly and Co (NYSE:LLY) by a 24%.
Disclosure: Pamela Gaviño holds no position in any of the stocks or funds mentioned.