Private Trust Co. NA has significantly increased its investment in the Goldman Sachs Access Investment Grade Corporate Bond ETF (NYSEARCA:GIGB) by 175.3% during the second quarter of 2023. According to HoldingsChannel, the firm acquired an additional 857 shares, bringing its total holdings to 1,346 shares valued at approximately $62,000 at the end of the reporting period.
Several other institutional investors have also adjusted their positions in the ETF recently. Notably, LPL Financial LLC expanded its stake by 35.2% in the first quarter of 2023, owning 1,902,970 shares valued at $87,081,000 after acquiring an additional 495,242 shares. Similarly, Envestnet Asset Management Inc. increased its holdings by 30.2% during the same period, resulting in ownership of 1,017,734 shares valued at $46,572,000 after adding 235,804 shares.
In addition, EP Wealth Advisors LLC made a new investment in GIGB valued at approximately $13,420,000, while Cetera Investment Advisers grew its stake by 26.4%, now holding 249,204 shares worth $11,404,000 after purchasing an extra 51,997 shares. Finally, White Pine Investment CO increased its holdings by 4.8% during the second quarter, now owning 181,321 shares valued at $8,344,000.
Market Performance of GIGB
As of the latest trading, GIGB shares opened at $47.04, showing a minor decrease of 0.1%. The ETF has experienced a 1-year low of $43.96 and a high of $47.13. The fund’s 50-day moving average stands at $46.56, while the 200-day moving average is at $45.80.
The Goldman Sachs Access Investment Grade Corporate Bond ETF primarily invests in investment-grade fixed income and tracks a broad-maturity, USD-denominated corporate bond index selected based on operating margin and leverage. Launched on June 6, 2017, this ETF is managed by Goldman Sachs, aiming to provide investors with a diversified exposure to the corporate bond market.
For those interested in tracking further developments in GIGB and the latest moves by hedge funds, resources such as HoldingsChannel.com offer insights into recent 13F filings and insider trades related to the ETF.
