AMJ Financial Wealth Management has reduced its investment in the iShares Russell Mid-Cap Growth ETF (NYSEARCA:IWP) by 6.5% during the second quarter of 2023. According to the firm’s latest Form 13F filing with the Securities & Exchange Commission, AMJ Financial now holds 7,864 shares after selling 544 shares in the quarter. The remaining stake in iShares Russell Mid-Cap Growth ETF is valued at approximately $1,091,000.
Several other institutional investors have also adjusted their positions in the iShares Russell Mid-Cap Growth ETF recently. Notably, Kingstone Capital Partners Texas LLC significantly increased its stake by an extraordinary 744,932.0% in the second quarter. Following this acquisition, Kingstone now owns a total of 14,565,376 shares, valued at $2,019,926,000, after adding an additional 14,563,421 shares.
Jones Financial Companies Lllp also raised its holdings by 7.1% in the first quarter. The firm now owns 4,861,523 shares worth $571,855,000 after acquiring 323,885 additional shares. Similarly, Envestnet Asset Management Inc. increased its holdings by 3.2% during the second quarter, now holding 1,990,778 shares valued at $276,081,000.
US Bancorp DE lifted its position by 0.7%, acquiring an additional 11,655 shares to reach a total of 1,572,826 shares worth $218,120,000. Northwestern Mutual Wealth Management Co. boosted its stake by 21.2%, now owning 1,348,494 shares valued at $187,009,000 after purchasing 236,001 additional shares. Collectively, institutional investors own 74.49% of the company’s stock.
The price performance of iShares Russell Mid-Cap Growth ETF remains strong. On Tuesday, shares opened at $137.75, reflecting a market capitalization of $20.13 billion. The ETF has a price-to-earnings (P/E) ratio of 30.48 and a beta of 1.15. Over the past year, the stock has fluctuated between a low of $99.85 and a high of $145.60. The current fifty-day and 200-day moving averages stand at $140.46 and $139.38, respectively.
The iShares Russell Mid-Cap Growth ETF aims to replicate the performance of the Russell Midcap Growth Index. It seeks investment results that correspond generally to the price and yield performance of this index, before fees and expenses.
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