Procyon Advisors LLC has significantly increased its investment in the iShares MSCI EAFE ETF (NYSEARCA:EFA), raising its stake by an impressive 699.9% during the third quarter of 2023. This move, revealed in the firm’s latest 13F filing with the Securities and Exchange Commission (SEC), means that Procyon now owns 100,848 shares of the exchange-traded fund, following the acquisition of an additional 88,240 shares during the period. The total value of these holdings reached approximately $9.4 million at the end of the quarter.
Several other institutional investors have also adjusted their positions in the iShares MSCI EAFE ETF recently. For instance, Laurel Wealth Advisors LLC dramatically raised its stake by 8,818.3% in the second quarter, now owning 3,291,030 shares worth around $294.2 million after purchasing an additional 3,254,128 shares.
The State Board of Administration of Florida Retirement System made a notable entry by acquiring a new stake valued at approximately $209.4 million during the same period. Meanwhile, the Board of Trustees of The Leland Stanford Junior University increased its holdings by 222.4%, now owning 3,346,434 shares valued at $299.1 million after acquiring an additional 2,308,580 shares.
Another significant move came from Bessemer Group Inc., which grew its position by 3,057.6%, owning 2,368,703 shares worth about $211.7 million after acquiring 2,293,687 shares in the last quarter. Additionally, Corient Private Wealth LLC increased its stake by 50.7%, now holding 5,768,279 shares valued at $504.2 million.
As of now, institutional investors control approximately 79.8% of the iShares MSCI EAFE ETF’s shares.
Current Market Performance
The iShares MSCI EAFE ETF opened at $99.30 on Thursday, marking a 0.5% increase. The fund has shown a robust performance, with a 50-day simple moving average of $95.75 and a 200-day simple moving average of $93.23. Over the past year, the ETF has recorded a low of $72.14 and a high of $99.44, indicating strong market interest.
The fund boasts a market capitalization of $73.28 billion, a price-to-earnings (P/E) ratio of 16.48, and a beta of 0.84, reflecting its stability and lower volatility compared to the broader market.
About the iShares MSCI EAFE ETF
The iShares MSCI EAFE ETF, formerly known as the iShares MSCI EAFE Index Fund, aims to replicate the performance of the MSCI EAFE Index. This index serves as a benchmark for international stock performance, encompassing equities from Europe, Australasia, and the Far East. The ETF invests in a representative sample of securities within the index, providing investors with exposure to a diverse range of international markets.
As institutional interest continues to grow, the iShares MSCI EAFE ETF remains a focal point for investment strategies targeting international equities.
