Linscomb Wealth Inc. has reduced its stake in the iShares Core S&P 500 ETF (NYSEARCA: IVV) by 1.4% during the third quarter of 2023, according to a recent filing with the Securities and Exchange Commission (SEC). The firm now holds 310,380 shares of the ETF after selling 4,360 shares in the quarter. This holding represents approximately 8.9% of Linscomb Wealth Inc.’s overall portfolio, making it the firm’s second-largest investment, valued at $207.74 million at the end of the quarter.
Several other institutional investors have also adjusted their positions in the iShares Core S&P 500 ETF. Notably, Heck Capital Advisors LLC acquired a new stake in the ETF during the fourth quarter, investing approximately $331.59 million. Meanwhile, Bison Wealth LLC increased its stake by 24.0%, bringing its total holdings to 7,799 shares valued at about $4.59 million after purchasing an additional 1,511 shares.
In addition, Integrated Capital Management LLC expanded its holdings by 7.9%, now owning 57,267 shares worth $36.18 million following the acquisition of 4,191 shares. Ergawealth Advisors Inc. also entered the market, buying a new stake valued at $222,000. Wealthcare Advisory Partners LLC raised its holdings by 6.8%, now possessing 63,783 shares valued at $39.60 million.
Overall, institutional investors and hedge funds collectively own approximately 70.12% of the iShares Core S&P 500 ETF.
iShares Core S&P 500 ETF Performance
On Thursday, the iShares Core S&P 500 ETF opened at $689.29. The fund’s 50-day moving average is $689.96, while the 200-day moving average stands at $670.57. With a market capitalization of $757.67 billion, the ETF has a price-to-earnings (PE) ratio of 25.10 and a beta of 1.00, indicating its volatility is similar to that of the broader market. Over the past year, the ETF has experienced a low of $484.00 and a high of $700.97.
About iShares Core S&P 500 ETF
The iShares Core S&P 500 ETF is an exchange-traded fund designed to track the price and yield performance of the Standard & Poor’s 500 Index. This index reflects the performance of large-capitalization stocks in the United States equity market. The ETF invests in a representative sample of securities within the index, maintaining an investment profile that aligns closely with the overall performance of the index.
As the financial landscape continues to evolve, the actions of prominent investors like Linscomb Wealth Inc. and others will likely influence trends in the market, reflecting broader economic conditions and investor sentiment.
