Creative Financial Designs Inc. ADV has expanded its holdings in the iShares Core S&P Mid-Cap ETF (NYSEARCA: IJH) by 4.4% during the second quarter of 2023. According to data from HoldingsChannel.com, the firm acquired an additional 4,336 shares, bringing its total ownership to 102,976 shares, valued at approximately $6,387,000 at the end of the reporting period.
This strategic move reflects a broader trend among institutional investors who are increasingly investing in the iShares Core S&P Mid-Cap ETF. Several hedge funds have recently adjusted their positions, demonstrating a growing interest in mid-cap stocks.
Mullooly Asset Management Inc. made a notable entry into the market by purchasing a new position in the iShares Core S&P Mid-Cap ETF during the first quarter, valued at around $462,545,000. Meanwhile, Wealthspire Advisors LLC significantly increased its stake by 103.5%, now owning 15,480,038 shares worth approximately $903,260,000 after acquiring an additional 7,873,056 shares.
Other institutional players also ramped up their investments. Bank of New York Mellon Corp raised its stake by 14.3%, acquiring an additional 7,414,265 shares to hold a total of 59,401,100 shares, valued at about $3,466,054,000. Similarly, Envestnet Asset Management Inc. boosted its holdings by 19.9%, owning 34,056,217 shares after purchasing an additional 5,645,200 shares. First Command Advisory Services Inc. also increased its stake by 39.7%, now holding 15,161,869 shares valued at $932,382,000.
As of the latest trading session, the iShares Core S&P Mid-Cap ETF opened at $64.53. The ETF boasts a market capitalization of $99.04 billion and a price-to-earnings ratio of 19.00. Over the past year, the ETF has seen a low of $50.15 and a high of $68.33. The 50-day simple moving average stands at $65.32, while the 200-day simple moving average is at $62.48.
The iShares Core S&P Mid-Cap ETF seeks to mirror the price and yield performance of mid-cap stocks in the United States, represented by the Standard & Poor’s MidCap 400 index. This focus on mid-cap investments often attracts institutional investors looking for growth opportunities in a diversified portfolio.
For those interested in tracking further developments regarding the iShares Core S&P Mid-Cap ETF, HoldingsChannel.com provides access to the latest 13F filings and insider trades, offering a comprehensive view of institutional ownership.
