Phoenix Wealth Advisors has reduced its holdings in the SPDR Portfolio S&P 500 Value ETF (NYSEARCA:SPYV) by 10.8% during the third quarter of 2023. According to the firm’s recent disclosure with the Securities and Exchange Commission (SEC), Phoenix Wealth Advisors now owns 93,808 shares of the ETF after selling 11,402 shares during this period. The ETF now constitutes approximately 2.0% of Phoenix Wealth Advisors’ investment portfolio, making it the firm’s 11th largest position.
At the end of the third quarter, Phoenix Wealth Advisors’ holdings in the SPDR Portfolio S&P 500 Value ETF were valued at $5,190,000. The firm is not alone in adjusting its investments, as several other hedge funds have also modified their positions in this ETF.
Other Hedge Funds Adjust Their Holdings
Fiduciary Advisors Inc. established a new position in the SPDR Portfolio S&P 500 Value ETF during the second quarter, investing approximately $26,000. Meanwhile, Tompkins Financial Corp significantly increased its stake by an astonishing 4,681.8%, acquiring a total of 526 shares valued at $28,000 after purchasing an additional 515 shares.
Parallel Advisors LLC made the most dramatic increase, boosting its holdings by 63,900.0%. Following their latest acquisition, they now own 640 shares, valued at $33,000. Atlantic Union Bankshares Corp and Legacy Investment Solutions LLC also entered the market, each purchasing new stakes valued at approximately $36,000.
SPDR Portfolio S&P 500 Value ETF Performance Overview
As of Friday, shares of the SPDR Portfolio S&P 500 Value ETF opened at $58.18. The ETF’s 50-day moving average stands at $56.90 and its 200-day moving average at $55.26. Over the past year, the ETF has experienced a low of $44.39 and a high of $58.50. Its current market capitalization is $32.37 billion, with a price-to-earnings ratio of 20.50 and a beta of 0.89, indicating its volatility relative to the market.
The SPDR Portfolio S&P 500 Value ETF, formerly known as the SPDR Dow Jones Large Cap Value ETF, aims to closely match the returns and characteristics of the S&P 500 Value Index. This index measures the performance of large-capitalization value stocks within the United States equity market, focusing on companies that exhibit strong value characteristics based on various financial ratios.
For those interested in tracking further developments, including the latest holdings of other hedge funds in the SPDR Portfolio S&P 500 Value ETF, detailed information can be found at HoldingsChannel.com. Subscribers can also receive daily summaries of news and analysts’ ratings related to the ETF and similar investment opportunities through MarketBeat.com’s free newsletter.
