On April 25 INFN was up over 20% on 9 million shares traded. It's obvious from this and subsequent price action that institutional investors are moving into the stock. Q2 institutional filings won't be coming in for another 3 months but Q1 filings are now being made and it's likely that many of the Q1 buyers were also buyers in Q2. It looks from what I'm seeing this afternoon on the SEC EDGAR web site like Fidelity, which trimmed their position in Q4, bought over 1 million shares in Q1 and owned over 16m shares as of March 31. I'll have to check tomorrow morning to see if there is any updated information available. JPMorgan filed their 13F quite a while ago showing that they bought close to 2 million shares in Q1. So these are some of the heavyweight investors that are moving into INFN and taking the stock higher.
Fidelity bought 1,250,000 shares in Q1, giving them a total position of 16.7m shares at quarter end. INFN also attracted some new institutional investors in Q1. Lord, Abbett, which has $45 billion under management, took a new position with a buy of 613,000 shares. Lord, Abbett launched its first equity mutual fund, the Lord Abbett Affiliated Fund, in 1934.