Rothschild Investment LLC has significantly increased its investment in the T. Rowe Price QM U.S. Bond ETF (NYSEARCA: TAGG) by an impressive 255.3% during the third quarter of 2023. This move was detailed in the firm’s latest Form 13F filing with the Securities and Exchange Commission (SEC). Following this purchase, Rothschild now holds 16,875 shares of TAGG, having acquired an additional 12,125 shares in the recent quarter. As of the latest filing, these holdings are valued at approximately $727,000.
Several other institutional investors have also adjusted their positions in TAGG. Notably, Root Financial Partners LLC established a new stake in the ETF during the third quarter, valued at around $25,000. Additionally, Jones Financial Companies Lllp increased its holdings by a staggering 494.2%, now owning 1,016 shares worth $44,000, after purchasing an extra 845 shares.
In the preceding quarter, JPMorgan Chase & Co. acquired a new position in TAGG valued at approximately $131,000, while Steward Partners Investment Advisory LLC added a stake worth $144,000. Furthermore, Envestnet Asset Management Inc. raised its ownership by 37.5%, now holding 16,298 shares valued at about $696,000 after acquiring an additional 4,448 shares. Currently, institutional investors and hedge funds collectively own 1.86% of the ETF.
Market Performance and Overview
As of Friday, the T. Rowe Price QM U.S. Bond ETF opened at $43.14. The fund has experienced a 52-week low of $41.41 and a high of $44.66. The ETF’s average performance metrics include a fifty-day simple moving average of $43.14 and a 200-day simple moving average of $42.98. With a market capitalization of $1.55 billion, the ETF has a price-to-earnings ratio of 34.46 and a beta of 0.27, indicating lower volatility compared to the broader market.
The T. Rowe Price QM U.S. Bond ETF, launched on September 28, 2021, is designed to track the Bloomberg U.S. Aggregate Bond Index. As an actively managed fund, TAGG encompasses a diverse selection of USD-denominated investment-grade bonds across various maturities, currently boasting assets under management (AUM) of $37.94 million and a total of 445 holdings.
Investors interested in the latest movements and positions of hedge funds in TAGG can visit HoldingsChannel.com for updates on 13F filings and insider trades related to the T. Rowe Price QM U.S. Bond ETF.
