Hidden Cove Wealth Management LLC has significantly decreased its investment in the iShares Global 100 ETF (NYSEARCA: IOO), cutting its stake by 46.1% during the third quarter of 2023. According to the company’s latest Form 13F filing with the Securities and Exchange Commission, Hidden Cove now holds 15,037 shares of the ETF after selling 12,869 shares during this period. The iShares Global 100 ETF constitutes approximately 1.2% of Hidden Cove’s total holdings, ranking as its 16th largest investment.
As of the most recent filing, Hidden Cove’s holdings in the iShares Global 100 ETF were valued at $1,805,000. The move reflects a broader trend among institutional investors, many of whom have recently adjusted their positions in the fund.
Institutional Movements in iShares Global 100 ETF
Other hedge funds have also made notable changes to their investments in the iShares Global 100 ETF. For instance, Annex Advisory Services LLC increased its stake by 31.0% during the second quarter, now owning 1,422,141 shares valued at $153,321,000 after acquiring an additional 336,185 shares.
Another significant move came from Jane Street Group LLC, which established a new position in the ETF valued at approximately $7,860,000 in the first quarter. In addition, Twelve Points Wealth Management LLC expanded its investment by 152.6% during the third quarter, bringing its ownership to 94,006 shares worth $11,282,000 after purchasing an extra 56,789 shares.
Envestnet Asset Management Inc. also increased its stake by 11.7% in the second quarter, now holding 387,294 shares valued at $41,754,000. Meanwhile, Focus Financial Network Inc. saw the most dramatic increase, boosting its stake by an astounding 971.6% during the third quarter to own 28,784 shares worth $3,454,000.
Current Performance and Investment Outlook
Shares of the iShares Global 100 ETF opened at $128.46 on Friday. The ETF has experienced a 52-week low of $82.79 and a 52-week high of $128.72. Its 50-day moving average price stands at $125.99, while the 200-day moving average price is recorded at $119.07.
With a market capitalization of $8.13 billion, the iShares Global 100 ETF shows a price-to-earnings ratio of 24.21 and a beta of 0.93. This exchange-traded fund aims to mirror the price and yield performance of the S&P Global 100 Index, which includes some of the largest and most liquid multinational companies worldwide, further emphasizing the strategic importance of such investments for institutional investors.
For those interested in the latest changes among hedge funds holding IOO, HoldingsChannel.com provides comprehensive updates on 13F filings and insider trades associated with the iShares Global 100 ETF.
