New Age Alpha Advisors LLC has reduced its investment in the iShares Russell Mid-Cap Value ETF (NYSEARCA:IWS) by a significant 43.4% during the third quarter of 2023. According to a recent filing with the Securities and Exchange Commission (SEC), the firm now holds 21,810 shares after selling 16,751 shares in the period. The remaining shares are valued at approximately $3,046,000.
This adjustment is part of a broader trend among institutional investors, with several firms adjusting their positions in the iShares Russell Mid-Cap Value ETF. For instance, Cahaba Wealth Management Inc. increased its holdings by 1.9%, now owning 4,040 shares worth $564,000 after acquiring an additional 74 shares. Similarly, Horst & Graben Wealth Management LLC raised its stake by 0.6%, which now totals 13,411 shares valued at $1,873,000 after buying 79 extra shares.
In a notable move, Pineridge Advisors LLC lifted its position by 6.7%, bringing its total to 1,314 shares valued at $184,000. Cary Street Partners Financial LLC also increased its investment by 1.6%, now holding 6,236 shares worth $824,000. Additionally, Private Wealth Management Group LLC expanded its stake significantly by 25.5%, acquiring 502 shares valued at $70,000.
Overall, institutional investors and hedge funds continue to hold a dominant 80.17% of the ETF’s total stock.
Market Performance and Overview
As of Monday, shares of the iShares Russell Mid-Cap Value ETF opened at $153.91. The ETF has experienced fluctuations over the past year, reaching a low of $108.85 and a high of $154.48. The current fifty-day moving average stands at $148.15, while the two-hundred day moving average is at $142.25.
With a market capitalization of $15.31 billion, the ETF features a price-to-earnings (P/E) ratio of 19.11 and a beta of 1.02, indicating a stable performance relative to the broader market.
Understanding the ETF
The iShares Russell Mid-Cap Value ETF, previously known as the iShares Russell Midcap Value Index Fund, aims to replicate the price and yield performance of the Russell Midcap Value Index. This index focuses on the mid-capitalization value sector of the U.S. equity market, selecting equities with lower price-to-book ratios and lower projected growth rates.
Investors looking for insights into the ETF’s performance and holdings can find comprehensive information through platforms like HoldingsChannel.com, which provides updates on institutional investments and insider trades.
As the investment landscape evolves, the actions of firms like New Age Alpha Advisors LLC highlight the dynamic nature of institutional trading in exchange-traded funds.
