In a significant financial move, Legacy Capital Wealth Partners LLC acquired a stake of 10,216 shares in the BondBloxx Bloomberg Six Month Target Duration US Treasury ETF (NYSEARCA:XHLF) during the second quarter of 2023. The investment, valued at approximately $514,000, was disclosed in a filing with the Securities and Exchange Commission.
This acquisition comes amid a trend of increased investment interest in the BondBloxx ETF, which focuses on U.S. Treasury securities with a target duration of six months. Several institutional investors have made notable changes to their positions in XHLF. For instance, Laurel Wealth Advisors LLC boosted its holdings by a remarkable 5,375.7% during the same period, acquiring an additional 6,438,526 shares to reach a total of 6,558,296 shares valued at $330,145,000.
Another significant player, Envestnet Asset Management Inc., raised its holdings by 1,215.1%, now owning 347,553 shares worth $17,496,000 after purchasing an additional 321,125 shares. Furthermore, Carrera Capital Advisors increased its stake by 16.5%, accumulating 2,253,953 shares valued at $113,464,000.
Investment Activity in BondBloxx ETF
Additional investments include Astor Investment Management LLC, which acquired a new stake valued at $10,746,000, and Evergreen Capital Management LLC, which significantly increased its stake by 196.4% in the first quarter. Evergreen now holds 137,712 shares valued at $6,934,000 after purchasing an extra 91,254 shares.
As of the latest trading session, shares of XHLF opened at $50.37. The ETF has experienced a fifty-two week low of $50.15 and a high of $50.42, with its 50-day moving average at $50.33 and the 200-day moving average at $50.30.
Overview of BondBloxx ETF
The BondBloxx Bloomberg Six Month Target Duration US Treasury ETF was launched on September 13, 2022, and is designed as a passively managed investment vehicle focused on investment-grade fixed income. The ETF aims to provide investors with exposure to U.S. Treasury securities while targeting a specific duration, making it an attractive option for those looking for stability in their portfolios.
As interest in Treasury securities continues to grow, investors are closely monitoring the ETF’s performance and the movements of its major stakeholders. The recent activity by various investment firms underscores a broader trend of reallocating assets towards fixed income securities in the current economic landscape.
