Balboa Wealth Partners has made a significant investment in the Vanguard International High Dividend Yield ETF (NASDAQ: VYMI), acquiring a new stake valued at approximately $406,000 during the second quarter of 2023. According to the firm’s latest filing with the Securities and Exchange Commission, Balboa purchased 5,071 shares of the fund, which focuses on high dividend yield equity.
This acquisition highlights a trend among institutional investors, as several other firms have also adjusted their positions in VYMI. Notably, Envestnet Asset Management Inc. increased its holdings by 2.3% in the first quarter, owning a total of 1,745,964 shares valued at approximately $128.66 million after purchasing an additional 39,917 shares during that period.
Similarly, The Manufacturers Life Insurance Company raised its stake in the ETF by 30.7%, now holding 1,741,013 shares worth about $128.30 million after acquiring 408,821 shares. LPL Financial LLC increased its position by 8.1%, now owning 1,472,896 shares valued at $108.54 million following an additional 110,232 shares purchase.
Confluence Wealth Services Inc. and the Royal Bank of Canada also expanded their holdings, with the former boosting its position by 3.4% and the latter by 10.8%. This growing interest in VYMI reflects broader confidence in high dividend yielding assets among institutional investors.
Market Performance and Profile
On the trading front, shares of Vanguard International High Dividend Yield ETF opened at $85.39 on Tuesday, reflecting a 0.6% increase. The ETF has experienced a one-year low of $65.08 and a high of $86.08. With a market capitalization of $12.84 billion, VYMI boasts a price-to-earnings ratio of 12.06 and a beta of 0.81, indicating relatively stable performance compared to the broader market.
The Vanguard International High Dividend Yield ETF, launched on February 25, 2016, primarily invests in equity from developed and emerging markets outside of the United States. The fund aims to track a market-cap-weighted index of companies expected to deliver above-average dividends over the next twelve months.
As investment strategies evolve, VYMI continues to attract considerable attention from hedge funds and institutional investors alike. For those interested in following the latest movements in institutional holdings, resources like HoldingsChannel.com provide up-to-date 13F filings and insider trades related to Vanguard International High Dividend Yield ETF.
In conclusion, Balboa Wealth Partners’ recent acquisition underscores the ETF’s appeal in the current investment landscape, where dividend yield plays a crucial role in asset allocation strategies.
