Means Investment CO. Inc. Boosts Its Investment in iShares Core S&P 500 ETF (NYSEARCA:IVV)

Means Investment CO. Inc. has increased its investment in the iShares Core S&P 500 ETF (NYSEARCA:IVV – Free Report) by 7.8% during the third quarter of the year, according to recent reports. After acquiring an additional 169 shares during this period, the institutional investor now holds a total of 2,326 shares. As of the latest filing with the SEC, the value of Means Investment CO. Inc.’s holdings in the iShares Core S&P 500 ETF stands at approximately $1,342,000.

In addition to Means Investment CO., other institutional investors have also adjusted their stakes in the iShares Core S&P 500 ETF. Global Trust Asset Management LLC increased its holdings by 28.6% in the first quarter, and now owns 360 shares, valued at $189,000, after acquiring 80 new shares. Similarly, Kaydan Wealth Management Inc. raised its position by 15.2%, bringing its total to 2,918 shares worth $1,535,000, following the purchase of an additional 386 shares. Nova R Wealth Inc. also grew its investment by 2.4% during the same quarter, now holding 39,656 shares valued at $20,848,000 after adding 915 shares to its portfolio.

Roth Financial Partners LLC and Allen Mooney & Barnes Investment Advisors LLC made their own increases as well. Roth Financial Partners LLC upped its stake by 14.7%, acquiring an additional 11,565 shares to reach a total of 90,206, which is worth around $47,424,000. Meanwhile, Allen Mooney & Barnes Investment Advisors LLC raised its holdings by 10.5%, now owning 1,260 shares valued at $656,000 after a purchase of 120 shares.

iShares Core S&P 500 ETF Overview

The iShares Core S&P 500 ETF is an exchange-traded fund that aims to replicate the performance of the Standard & Poor’s 500 Index, which represents large-cap companies in the U.S. equity market. As for its recent market performance, the iShares Core S&P 500 ETF opened at $587.46. Currently, it has a market capitalization of $506.92 billion, a price-to-earnings (PE) ratio of 25.23, and a beta of 0.99. Over the past year, the ETF has fluctuated with a low of $411.02 and a high of $588.93. Its fifty-day moving average is $566.53, while the two-hundred-day average stands at $545.40.

Conclusion

The ongoing adjustments by various institutional investors indicate a growing confidence in the iShares Core S&P 500 ETF, reflecting the trend in the broader investment landscape. With its strategic focus on the performance of large-cap U.S. equities, the ETF continues to attract considerable attention from both institutional and retail investors alike.

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