Hills Bank & Trust Co has reduced its stake in the iShares Core S&P 500 ETF (NYSEARCA:IVV) by 10.1% during the second quarter of 2023, according to a filing with the Securities & Exchange Commission. The institutional investor now holds 1,008 shares after selling 113 shares during this period. As of the end of June, Hills Bank’s investment in the ETF was valued at approximately $626,000.
This decision is part of a broader trend, as other institutional investors and hedge funds have also been adjusting their positions in the iShares Core S&P 500 ETF. For instance, Flaharty Asset Management LLC acquired a new position in the ETF worth around $28,000 in the first quarter, while Lord & Richards Wealth Management LLC purchased a new stake valued at $31,000. Additionally, Cheviot Value Management LLC acquired shares worth approximately $52,000 during the same quarter.
In the second quarter, Hager Investment Management Services LLC also entered the market, acquiring a stake valued at about $61,000. Notably, Rice Partnership LLC significantly increased its stake by 460%, bringing its total holdings to 112 shares worth $70,000 after buying an additional 92 shares.
As of now, institutional investors collectively own 70.12% of the iShares Core S&P 500 ETF.
The ETF’s performance has shown some stability, with shares opening at $685.23 on Friday. Over the past year, the ETF has experienced a low of $484.00 and a high of $693.07. It currently has a fifty-day simple moving average of $665.29 and a two-hundred-day simple moving average of $625.48. The fund boasts a market capitalization of $718.63 billion, a price-to-earnings ratio of 25.10, and a beta of 1.00.
The iShares Core S&P 500 ETF seeks investment results that closely correspond to the price and yield performance of the Standard & Poor’s 500 Index. This index measures the performance of large-capitalization stocks within the United States equity market, making it a key benchmark for investors.
Investors interested in the latest movements and holdings related to the iShares Core S&P 500 ETF can access comprehensive data, including 13F filings and insider trades, through platforms like HoldingsChannel.com. For those looking to stay updated on news and analyst ratings, MarketBeat.com offers a daily summary newsletter featuring insights on the ETF and related companies.
