The Bank of Stockton has decreased its holdings in the iShares Russell 1000 Growth ETF (NYSEARCA:IWF) by 2.4% during the second quarter of 2023. Following the sale of 25 shares, the bank now owns a total of 1,015 shares, valued at approximately $431,000 as of the end of June. This adjustment reflects a broader trend among institutional investors modifying their stakes in various funds.
Several large investment firms have recently made significant changes to their holdings in the iShares Russell 1000 Growth ETF. Notably, Toth Financial Advisory Corp increased its investment by an impressive 329.4% in the first quarter, acquiring an additional 56 shares to bring its total to 73 shares, worth around $26,000. Similarly, Mowery & Schoenfeld Wealth Management LLC purchased a new stake in the fund, valued at approximately $31,000, while EQ Wealth Advisors LLC and Hughes Financial Services LLC also entered new positions valued at around $32,000 and $33,000, respectively.
Additionally, American Capital Advisory LLC made headlines with a staggering 792.3% increase in its holdings, now owning 116 shares worth about $42,000 after buying an extra 103 shares in the same quarter. Currently, institutional investors hold 75.33% of the iShares Russell 1000 Growth ETF.
Stock Performance Overview
As of the latest trading session, iShares Russell 1000 Growth ETF opened at $472.68. The fund has experienced fluctuations, with a 50-day moving average price of $446.37 and a 200-day moving average price of $405.58. Over the past year, the ETF has reached a low of $308.67 and a high of $473.01. With a market capitalization of $123.53 billion, it possesses a price-to-earnings ratio of 33.43 and a beta of 1.08, indicating its relative volatility compared to the broader market.
About iShares Russell 1000 Growth ETF
The iShares Russell 1000 Growth ETF, formerly known as the iShares Russell 1000 Growth Index Fund, aims to replicate the performance of the Russell 1000 Growth Index. This index measures the performance of equity securities from Russell 1000 index issuers that demonstrate relatively higher price-to-book ratios and anticipated growth. For investors looking to track the movements of major growth stocks, the ETF serves as a prominent vehicle.
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