Advance Capital Management Inc. lowered its position in Pfizer Inc. ( NYSE:PFE – Free Report ) by 12.8% in the second quarter, Holdings Channel.com reports. The institutional investor owned 9,747 shares of the biopharmaceutical company's stock after selling 1,428 shares during the period. Advance Capital Management Inc.'s holdings in Pfizer were worth $358,000 as of its most recent filing with the Securities and Exchange Commission. A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company.

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