Simplicity Wealth LLC has reduced its investment in the iShares Core S&P 500 ETF (NYSEARCA: IVV) by 13.0% during the third quarter of 2023. This adjustment was disclosed in a recent filing with the U.S. Securities and Exchange Commission (SEC). Following the sale of 13,502 shares, Simplicity Wealth now holds 90,002 shares, which represent 3.5% of its overall portfolio. As of the latest filing, these shares are valued at approximately $60,238,000.
The iShares Core S&P 500 ETF remains a significant part of Simplicity Wealth’s investments, ranking as its third-largest position. The ETF tracks the performance of the Standard & Poor’s 500 Index, which includes major U.S. companies and is a critical barometer of the U.S. stock market.
Other Institutional Movements
Simplicity Wealth is not alone in adjusting its position within this ETF. Several other institutional investors and hedge funds have also made notable changes recently. For instance, Heck Capital Advisors LLC acquired a new stake in the iShares Core S&P 500 ETF in the fourth quarter, investing approximately $331,591,000.
Bison Wealth LLC increased its holdings by 24.0% during the same quarter, bringing its total to 7,799 shares valued at around $4,591,000. Meanwhile, Christensen King & Associates Investment Services Inc. raised its stake by 3.7% in the second quarter, now owning 2,633 shares worth approximately $1,635,000.
Other noteworthy adjustments include Bank of Stockton, which boosted its holdings by 4.4%, now owning 95,544 shares valued at $59,323,000, and Revisor Wealth Management LLC, which increased its stake by an impressive 74.5% during the second quarter. Revisor now holds 1,675 shares, valued at around $1,054,000.
Institutional investors collectively own 70.12% of the iShares Core S&P 500 ETF, highlighting its popularity among large financial entities.
Market Performance
As of Thursday, the iShares Core S&P 500 ETF opened at $688.32, reflecting a modest increase of 1.1%. The ETF has experienced a 12-month low of $484.00 and a high of $699.17. Currently, its fifty-day moving average is $684.98, and the 200-day moving average stands at $665.82. The ETF boasts a market capitalization of $758.77 billion, a price-to-earnings (P/E) ratio of 25.10, and a beta of 1.00, indicating it closely follows market movements.
The iShares Core S&P 500 ETF is designed to yield results that correspond to the performance of the Standard & Poor’s 500 Index, focusing on large-cap U.S. equities. This fund invests in a representative sample of securities that reflect the Index’s investment profile, making it a popular choice for both individual and institutional investors seeking exposure to the U.S. stock market.
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