Institutional investors purchased a net $275.6 thousand shares of APEI during the quarter ended December 2012. This may signal that the smart money is gaining interest in this company as the 103.98% of the shares outstanding that institutional investors hold is among the lowest in the Other Consumer Services industry.
| Individual stakeholders | 7.16% |
| Mutual fund holders | 58.28% |
| Other institutional | 45.69% |