Procyon Advisors LLC has significantly increased its stake in the Vanguard High Dividend Yield ETF (NYSEARCA: VYM) by 5.2% during the third quarter of 2023. According to a recent filing with the Securities and Exchange Commission, Procyon Advisors now holds a total of 114,205 shares after acquiring an additional 5,653 shares during the quarter. This investment represents 0.3% of Procyon Advisors’ overall portfolio, making VYM its 23rd largest holding, valued at approximately $16.1 million at the end of the period.
A number of other hedge funds have also made moves in relation to the Vanguard High Dividend Yield ETF. For instance, Moisand Fitzgerald Tamayo LLC initiated a new position in the second quarter, valued at around $27,000. Similarly, Financial Management Professionals Inc. acquired a stake worth approximately $31,000, while Strategic Investment Solutions Inc. boosted its holdings by an impressive 92%, now owning 263 shares valued at $35,000 after purchasing an additional 126 shares.
Kiker Wealth Management LLC and Nvwm LLC also entered the market, each acquiring new positions in the ETF, each valued at about $35,000. The recent activity indicates growing interest in VYM among investment firms, reflecting confidence in its performance.
Current Market Performance of VYM
As of Thursday, shares of the Vanguard High Dividend Yield ETF opened at $148.07. The stock has experienced a 52-week low of $112.05 and a 52-week high of $148.15. With a market capitalization of $71.16 billion, VYM boasts a price-to-earnings (P/E) ratio of 17.79 and a beta of 0.79. Its 50-day moving average price stands at $143.96, while the 200-day moving average is at $140.26.
About Vanguard High Dividend Yield ETF
The Vanguard High Dividend Yield Index Fund (VYM) is an exchange-traded fund that tracks the FTSE Custom High Dividend Yield Index. This index comprises high-dividend-paying U.S. companies, excluding Real Estate Investment Trusts (REITs), and weights them by market capitalization. Since its inception on November 10, 2006, the fund has been managed by Vanguard, aiming to provide investors with a diversified portfolio of income-generating assets.
As investment firms continue to adjust their portfolios, Vanguard High Dividend Yield ETF remains a focal point for those seeking to capitalize on high dividend yields in the current market landscape.
