Horst & Graben Wealth Management LLC has significantly increased its investment in the iShares S&P 100 ETF (NYSEARCA: OEF) by 25.6% during the third quarter of 2023. This information was revealed in the firm’s latest Form 13F filing with the Securities and Exchange Commission. Following this acquisition, the wealth management firm now owns 25,210 shares of the ETF, which represents an investment valued at approximately $8.39 million.
The iShares S&P 100 ETF now accounts for about 1.3% of Horst & Graben’s total portfolio, making it the firm’s 23rd largest position. This strategic move reflects a growing confidence in the performance of the ETF, which tracks large-cap U.S. stocks.
Other investors have also made notable changes to their positions in the iShares S&P 100 ETF. Bogart Wealth LLC increased its holdings by an impressive 217.2% during the second quarter, now owning 92 shares valued at $28,000 after acquiring an additional 63 shares. Similarly, Corsicana & Co. entered the market with a new position worth about $32,000 in the third quarter.
Moreover, Beacon Capital Management LLC and Thurston Springer Miller Herd & Titak Inc. both made significant acquisitions, with Thurston Springer increasing its stake by 126.7% to hold 136 shares valued at $41,000. Geneos Wealth Management Inc. also raised its position by 40.2%, acquiring an additional 39 shares in the last quarter.
Market Performance and Overview
As of the latest trading session, shares of the iShares S&P 100 ETF opened at $346.87. The ETF has experienced a 52-week low of $232.57 and a 52-week high of $349.08. The fund has a market capitalization of approximately $29.33 billion and displays a price-to-earnings ratio of 27.17, alongside a beta of 1.00, indicating its performance relative to the broader market.
The iShares S&P 100 ETF, formerly known as the iShares S&P 100 Index Fund, aims to mirror the price and yield performance of the S&P 100 Index. This index serves as a benchmark for large-cap stocks in the United States equity market, comprising blue-chip stocks from various industries represented in the S&P 500 Index.
Investors interested in keeping up with developments related to the iShares S&P 100 ETF can subscribe to daily updates that provide concise summaries and analysts’ ratings through platforms like MarketBeat.com.
This ongoing interest from various wealth management firms indicates a robust confidence in the ETF’s ability to deliver strong returns, reflecting broader market trends and investor sentiment.
