Published on 27 May 2024 on Insider Monkey via Yahoo Finance
Mastercard Incorporated (MA) Rose in Q1 as the Results Exceeded Expectations
Baron Funds, an investment management company, released its “Baron FinTech Fund” first quarter 2024 investor letter. A copy of the letter can be downloaded here. In the first quarter, the fund rose 6.33% (Institutional Shares) compared to a 3.60% gain for the FactSet Global FinTech Index (Benchmark) and a 10.56% gain for the S&P 500 index. The major market indexes touched an all-time high in the quarter driven by robust economic data and relatively strong corporate earnings. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Baron FinTech Fund highlighted stocks like Mastercard Incorporated (NYSE:MA), in the first quarter 2024 investor letter. Mastercard Incorporated (NYSE:MA) is a payment technology company with a market capitalization of $419.424 billion. The one-month return of Mastercard Incorporated (NYSE:MA) was -2.43%, and its shares gained 20.52% of their value over the last 52 weeks. On May 24, 2024, Mastercard Incorporated (NYSE:MA) stock closed at $451.18 per share.