Procyon Advisors LLC has significantly increased its holdings in the Vanguard FTSE Developed Markets ETF (NYSEARCA:VEA) by an impressive 178.3% during the third quarter of 2023. According to Holdings Channel, the firm now owns 382,410 shares of the ETF after acquiring an additional 244,982 shares in this period. This investment now constitutes approximately 0.4% of Procyon Advisors LLC’s total holdings, making VEA the firm’s 18th largest holding with a total value of $22,914,000.
Several other hedge funds have also adjusted their positions in the Vanguard FTSE Developed Markets ETF recently. For instance, IFS Advisors LLC purchased a new stake valued at $35,000 during the second quarter. Meanwhile, Armstrong Advisory Group Inc. increased its position by 210.1%, now holding 831 shares worth $47,000 after acquiring an additional 563 shares. Similarly, Elevation Point Wealth Partners LLC and Kilter Group LLC have purchased new positions valued at $48,000 and $49,000, respectively. Mid American Wealth Advisory Group Inc. also entered the market with a new position worth around $52,000.
Market Performance and Analysis
As of the latest trading session, the Vanguard FTSE Developed Markets ETF opened at $64.87. The ETF currently boasts a market capitalization of $200.94 billion, a price-to-earnings (P/E) ratio of 16.34, and a beta of 0.87. The fund’s 50-day moving average price stands at $62.11, while its 200-day moving average is $60.05. Over the past twelve months, the ETF has reached a low of $45.14 and a high of $64.95, illustrating its volatility in the market.
The Vanguard FTSE Developed Markets ETF primarily invests in a diverse range of equity securities from developed markets outside the United States. Launched on July 20, 2007, this exchange-traded fund aims to track a market-capitalization-weighted index that includes large-, mid-, and small-cap stocks.
Investors looking to monitor the ETF’s performance can find updates on various hedge fund activities and the latest 13F filings on platforms like Holdings Channel. For daily news summaries and analysts’ ratings related to the Vanguard FTSE Developed Markets ETF, individuals can subscribe to MarketBeat’s free newsletter.
With the recent surge in investments from Procyon Advisors LLC and other funds, the Vanguard FTSE Developed Markets ETF continues to attract significant attention from institutional investors, reflecting a growing interest in international equities.
