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Apple Inc. (NASDAQ:AAPL)’s Buybacks During Second Quarter Accounted For 13.5% Of All S&P 500: Report

Written by on September 18, 2013

According to Silverblatt’s data, Apple Inc. (NASDAQ:AAPL) accounted for 13.5 percent of all S&P 500 buybacks during the second quarter.  Yesterday, Howard Silverblatt noted that Apple purchased $16 billion of its own stock in the second quarter, setting a new all-time record for a single company in S&P Dow Jones Indices’.

According to the old record, the International Business Machines Corp. (NYSE:IBM) has bought back $15.7 billion worth of its stock in the second quarter of 2007 and now Apple’s buyback stands for 13.5 percent of all S&P 500 during the second quarter.

It’s an interesting fact for Apple’s shareholders, as it would make them feel, to be confident the company couldn’t more viably invest the money in a productive asset instead of pushing cash out of the door to former shareholders. According to TrimTabs Investment Research, Apple’s shares shrunk by 3.2 percent through July, that keeps a close eye on the subject. Although the insider transaction data depicts a spike in sales by insiders lately, but it’s a small figure as compared to that huge $16 billion repurchase.

The tech giant also keeping a close eye on this “float shrink” because it runs TrimTabs Float Shrink ETF, that is being actively managed ETF that’s built for these situations. The ETF is leading by 30% during 2013. Apple Inc’s weighting is about 0.9% of the equal-weighted 100-stock portfolio, according to XTF.com.

International Business Machines Corp. (NYSE:IBM) shares in last session were down -0.51% and closed at $192.16. Apple Inc. (NASDAQ:AAPL) shares were up 1.16% in last session and closed at $455.32.

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