E Fund Management Hong Kong Co. Ltd. lowered its holdings in Baidu, Inc. (NASDAQ:BIDU) by 23.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,232 shares of the information services provider’s stock after selling 21,388 shares during the period. Baidu makes up 8.8% of E Fund Management Hong Kong Co. Ltd.’s portfolio, making the stock its 4th biggest position. E Fund Management Hong Kong Co. Ltd.’s holdings in Baidu were worth $14,116,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. St. Johns Investment Management Company LLC purchased a new stake in shares of Baidu in the first quarter valued at $25,000. Grandview Asset Management LLC acquired a new position in shares of Baidu in the first quarter worth $29,000. Benjamin Edwards Inc. acquired a new position in shares of Baidu in the first quarter worth $32,000. BDO Wealth Advisors LLC acquired a new position in shares of Baidu in the first quarter worth $33,000. Finally, Mascoma Wealth Management LLC acquired a new position in shares of Baidu in the first quarter worth $39,000. Institutional investors own 48.22% of the company’s stock.