New Age Alpha Advisors LLC has significantly reduced its investment in the iShares Russell Mid-Cap Value ETF (NYSEARCA:IWS), selling 16,751 shares in the third quarter of 2023. This decision has resulted in a 43.4% decrease in their holdings, leaving the firm with 21,810 shares valued at approximately $3,046,000 as of the latest filing with the U.S. Securities and Exchange Commission (SEC).
Several other institutional investors have also adjusted their positions in the iShares Russell Mid-Cap Value ETF during the same period. For instance, Cahaba Wealth Management Inc. increased its stake by 1.9%, acquiring an additional 74 shares for a total of 4,040 shares worth $564,000. Similarly, Horst & Graben Wealth Management LLC raised its holdings by 0.6%, now owning 13,411 shares valued at $1,873,000 after purchasing 79 additional shares.
Pineridge Advisors LLC has also expanded its position, increasing its holdings by 6.7% to 1,314 shares, valued at $184,000. On the other hand, Cary Street Partners Financial LLC boosted its stake by 1.6% in the second quarter, now holding 6,236 shares worth $824,000 after acquiring an extra 97 shares. Private Wealth Management Group LLC made the most substantial increase, raising its position by 25.5% to 502 shares, valued at $70,000.
Institutional investors and hedge funds collectively own approximately 80.17% of the iShares Russell Mid-Cap Value ETF. This indicates a strong level of confidence among large financial players in the ETF’s performance.
Stock Performance and Market Analysis
As of Monday, shares of the iShares Russell Mid-Cap Value ETF opened at $153.91. Over the past year, the stock has experienced a low of $108.85 and a high of $154.48. The ETF’s fifty-day moving average stands at $148.15, while its two-hundred-day moving average is at $142.25. The fund has a market capitalization of $15.31 billion, a price-to-earnings (P/E) ratio of 19.11, and a beta of 1.02, indicating its relative volatility compared to the broader market.
Understanding the iShares Russell Mid-Cap Value ETF
The iShares Russell Mid-Cap Value ETF, previously known as the iShares Russell Midcap Value Index Fund, aims to replicate the performance of the Russell Midcap Value Index. This index tracks the performance of mid-capitalization stocks in the United States that are considered to be undervalued based on their price-to-book ratios and expected growth rates.
Investors looking for exposure to the mid-cap value segment may find this ETF an attractive option, especially given its recent adjustments by institutional investors.
For those interested in tracking the latest movements and holdings in the iShares Russell Mid-Cap Value ETF, resources are available that provide updates on the fund’s performance and insider trading activities.
