Shareblue, a popular hedge fund that invests in stocks, has increased its stake in Google Inc. and Apple Inc. after the tech companies’ share price surged in recent days.
Shares of Apple rose 5.9% and Google’s rose 4.5% over the past three trading sessions, as investors priced in the company’s latest stock-market rally.
Shareblue also jumped 2.2% in early morning trading Thursday after the technology stocks surged.
Shares rose 1.5%.
Shares of Google and Apple both fell on Thursday.
Shareholders who bought Apple shares had $4.5 billion in Apple stock, according to FactSet data.
“We are happy with our position in Google and are confident the company will deliver on the growth that the market is expecting in the near term,” Shareblue CEO Scott Thompson said in a statement.
Shares for Google surged about 5% Thursday after it reported a strong quarter, boosted by new revenue, new features and new investors.
Shares have risen more than 8% this year as the search giant has been expanding its reach to new markets, expanding its digital advertising and building its data centers in countries like India, China and the Middle East.
Shares in Apple fell more than 1% after the company reported disappointing third-quarter earnings, raising questions about how the company plans to recover from the storm of lawsuits against Apple that began last year.
Apple shares have surged more than 50% this decade, according, FactSet, to nearly $100 billion.
Shares fell more 0.2%, or about $1 billion, for the day Thursday.
The tech companies rose in price Wednesday, when the S&P 500 climbed 1.7% to reach its highest level in more than a year.
Shares are up about 8% each day since mid-June.
A number of tech stocks rose, including Facebook Inc., Google Inc., Oracle Corp. and Amazon.com Inc. Some companies are seeing a rise in the number of investors looking for a return.
Microsoft Corp. said on Thursday it had raised more than $2 billion in new capital for the Windows software company.
Shares climbed to $22.93, a more than 4% increase from Thursday’s close.
Com Inc. stock climbed 1% to $19.98.
Google Inc.’s stock jumped 3% to around $62.15.
The Dow Jones Industrial Average rose 1,834.70 points, or 0.6%, to 17,065.89, the S & P 500 gained 1,542.90 points, to 2,839.70 and the Nasdaq Composite gained 17.15 points, 3.4%, to 5,828.24.