AdvisorNet Financial Inc Increases Holdings in Vanguard Mega Cap Growth ETF

AdvisorNet Financial Inc has recently increased its investment in the Vanguard Mega Cap Growth ETF (NYSEARCA:MGK) by 4.8% during the fourth quarter, as shared in the latest filing with the Securities and Exchange Commission. Following this acquisition, AdvisorNet now holds 1,198 shares of the ETF, having added an additional 55 shares over the quarter. As per the most current SEC report, AdvisorNet Financial's total holdings in this ETF are valued at approximately $412,000.

In addition to AdvisorNet, several other institutional investors and hedge funds have also been active in buying and selling shares of the Vanguard Mega Cap Growth ETF. For instance, Assetmark Inc. raised its ownership in the ETF by 3.8% in the third quarter, bringing its total to 7,453,268 shares, which are now valued at around $2.40 billion after acquiring an additional 271,905 shares recently.

Moreover, Cassaday & Co Wealth Management LLC increased its position by 2.1% during the same period, attaining a total of 3,574,349 shares worth approximately $1.15 billion after purchasing an additional 74,966 shares. Captrust Financial Advisors made a significant increase as well, boosting its stake by 756.3%, now owning 1,594,858 shares thanks to the addition of 1,408,609 shares in the last quarter, which are valued at around $513 million.

Another noteworthy change came from World Investment Advisors LLC, which raised its holdings in the Vanguard Mega Cap Growth ETF by an astonishing 36,249.8%. It currently owns 634,667 shares, valued at approximately $204 million, after acquiring an additional 632,921 shares recently. PNC Financial Services Group Inc. also increased its stake by a modest 0.5%, leading to a total of 566,062 shares worth about $182 million after acquiring an extra 2,623 shares during the last quarter.

Vanguard Mega Cap Growth ETF Price Review

As of the latest market data, Vanguard Mega Cap Growth ETF shares opened at $342.18. The ETF has experienced a fifty-two week low of $257.42 and a high of $358.61. Its 50-day simple moving average stands at $344.91, while the 200-day simple moving average is $326.05. Overall, the ETF has a market capitalization of $22.65 billion, a price-to-earnings ratio of 42.92, and a beta of 1.28, indicating its volatility relative to the market.

Overview of the Vanguard Mega Cap Growth ETF

The Vanguard Mega Cap Growth ETF (MGK) is an exchange-traded fund designed to cluster stocks that are part of the CRSP US Mega Growth index. This index comprises the largest stocks, specifically the top 70% based on growth factors in terms of market capitalization. The ETF has been managed by Vanguard since its establishment on December 17, 2007.

Vanguard, ETF, Investments