Focus Partners Advisor Solutions LLC has trimmed its holdings in the iShares Russell Mid-Cap Growth ETF (NYSEARCA:IWP) by 1.7% during the first quarter of 2024, as revealed in its recent filing with the Securities and Exchange Commission. Following the sale of 896 shares, the institutional investor now owns 51,506 shares, valued at approximately $6,051,000.
This adjustment in Focus Partners’ portfolio reflects a broader trend among institutional investors, many of whom have recently altered their stakes in the iShares Russell Mid-Cap Growth ETF. For instance, Pacific Life Fund Advisors LLC acquired a new position in the fund during the first quarter, investing around $89,345,000. Similarly, Financial Advisory Corp purchased shares worth about $93,272,000 in the previous quarter, while BNP Paribas Financial Markets added a stake valued at approximately $65,138,000 in the most recent quarter.
Truist Financial Corp made a significant move by increasing its holdings in the iShares Russell Mid-Cap Growth ETF by 77.7%. The firm now possesses 1,260,419 shares valued at approximately $148,087,000 after acquiring an additional 551,089 shares during the quarter. Another noteworthy participant, Zions Bancorporation National Association UT, also entered the fray, purchasing a new stake worth about $59,221,000.
Current data indicates that institutional investors hold approximately 74.49% of the stock, underscoring the significant interest in this ETF among hedge funds and other financial entities.
Stock Performance and Market Insights
As of Monday, March 18, 2024, the iShares Russell Mid-Cap Growth ETF opened at $142.91. Over the past year, the stock has experienced a low of $99.85 and a high of $144.17. The ETF’s performance metrics show a 50-day simple moving average of $139.92 and a 200-day simple moving average of $130.04.
With a market capitalization of $20.44 billion, the iShares Russell Mid-Cap Growth ETF boasts a price-to-earnings (P/E) ratio of 30.48 and a beta of 1.10, indicating its volatility compared to the broader market.
The iShares Russell Mid-Cap Growth ETF, previously known as the iShares Russell Midcap Growth Index Fund, aims to achieve investment results that correspond generally to the price and yield performance of the Russell Midcap Growth Index. This focus on mid-cap growth stocks has positioned the ETF as a significant player in the investment landscape.
For those interested in tracking the latest movements and holdings related to the iShares Russell Mid-Cap Growth ETF, resources such as HoldingsChannel.com provide up-to-date information on 13F filings and insider trades. Additionally, MarketBeat.com offers a daily email newsletter summarizing recent news and analyst ratings for the ETF and similar investment vehicles.
