Fidelity and Wellington increase stakes in Apple Inc.

“Fidelity Investments, the world’s largest mutual-fund company, and money manager Wellington Management Company LLP increased their stakes in technology companies including Apple Inc. during the first quarter,” Sree Vidya Bhaktavatsalam reports for Bloomberg.

“Fidelity added 2.9 million shares of Apple, bringing the total to 58 million, or 6.7 percent of the total stock outstanding, according to a regulatory filing. Wellington bought 20 million shares, getting a 2.3 percent stake in the Cupertino, California-based maker of the iPod portable music player,” Bhaktavatsalam reports.

“The purchases by the two Boston-based asset managers took place before Apple’s shares surged above $100 for the first time on optimism its release of the iPhone device in June will boost sales. The iPhone combines the features of an iPod and a mobile phone, and will offer email and Internet access. Apple’s stock has risen an annual average of 54 percent over five years,” Bhaktavatsalam reports.

Full article here.