Procyon Advisors LLC has significantly increased its investment in the SPDR Bloomberg 1-3 Month T-Bill ETF, boosting its stake by an impressive 103.4% during the third quarter of 2023. According to HoldingsChannel.com, the institutional investor now holds 37,274 shares of the ETF, valued at approximately $3.42 million at the conclusion of the reporting period. This strategic move reflects Procyon Advisors’ confidence in the fund’s performance amid ongoing economic shifts.
Major Investors Adjust Their Holdings
Procyon Advisors is not alone in its investment strategy. Other significant investors have also modified their holdings in the SPDR Bloomberg 1-3 Month T-Bill ETF (NYSEARCA:BIL). For instance, Bank of America Corp DE raised its stake by 14.6% during the second quarter, acquiring an additional 2,270,073 shares to bring its total ownership to 17,775,986 shares, valued at an impressive $1.63 billion.
Similarly, Captrust Financial Advisors increased its position by 75.6%, now owning 5,777,775 shares worth around $530 million. Raymond James Financial Inc. also enhanced its holdings, raising its stake by 39.9%, resulting in ownership of 4,041,128 shares valued at approximately $370.7 million. Truist Financial Corp and AGF Management Ltd. made notable adjustments as well, with stakes increased by 6.0% and 25.4% respectively.
Current Stock Performance and Fund Overview
As of Thursday, the SPDR Bloomberg 1-3 Month T-Bill ETF opened at $91.50. The fund’s 50-day moving average stands at $91.51, while the 200-day moving average is at $91.57. Over the past year, the ETF has experienced a low of $91.26 and a high of $91.78.
The SPDR Bloomberg 1-3 Month T-Bill ETF primarily invests in investment-grade fixed income. It tracks a market-weighted index of all publicly issued zero-coupon U.S. Treasury bills with maturities ranging from one to three months. Launched on May 25, 2007, the fund is managed by State Street.
The growing interest from institutional investors, coupled with the ETF’s stable performance, indicates a strong demand for short-term Treasury investments, especially as markets navigate uncertain economic conditions. For further insights into institutional holdings and trends, investors can refer to the latest filings and reports available on HoldingsChannel.com.
