Praveenh
08-23
$NVIDIA Corp(NVDA)$  Recently filed Forms 13F show that two high-profile hedge fund managers sold shares of Nvidia during the second quarter while reallocating capital to the iShares Bitcoin Trust (NASDAQ: IBIT), an exchange-traded fund (ETF) that tracks Bitcoin (CRYPTO: BTC).

David Shaw at D.E. Shaw sold 12.1 million shares of Nvidia, trimming his position by 52%. Meanwhile, he bought 2.4 million shares of the iShares Bitcoin Trust, increasing his position by 1,658%.

Steven Cohen at Point72 Asset Management sold 409,042 shares of Nvidia, trimming his position by 16%. He bought 1.6 million shares of the iShares Bitcoin Trust, diversifying into cryptocurrency for the first time.

The trades made by Shaw and Cohen are noteworthy because both fund managers have credentials beyond their status as billionaires. D.E. Shaw and Point72 rank second and 13th, respectively, among the 20 best-performing hedge funds in history, according to LCH Investments.

Nvidia Rebound: Still a Long Term Bet?
Nvidia drop 2% despite exceeding expectations for the third quarter and providing strong guidance. Nvidia posted 81 cents in adjusted earnings per share and $35.08 billion in revenue. Analysts surveyed by LSEG were expecting 75 cents in earnings per share and $33.16 billion in revenue. ----------------- What's your target price for Nvidia? Head to $130 or $140 this week?
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