FSM Wealth Advisors LLC has boosted its holdings in the iShares Core S&P Mid-Cap ETF (NYSEARCA: IJH) by 13.4% during the third quarter of 2023. This increase was disclosed in the firm’s most recent filing with the Securities and Exchange Commission (SEC), indicating continued confidence in mid-cap investments. Following this acquisition, FSM Wealth Advisors now owns 329,711 shares of the ETF, having purchased an additional 38,888 shares during the quarter.
The iShares Core S&P Mid-Cap ETF represents approximately 3.0% of FSM Wealth Advisors’ total portfolio, making it the firm’s eighth largest holding. As of the end of September 2023, the value of FSM Wealth Advisors’ investment in the ETF stood at $21,517,000.
Institutional Investor Interest Grows
The iShares Core S&P Mid-Cap ETF has attracted interest from various institutional investors and hedge funds. For instance, Capital A Wealth Management LLC initiated a new position in the ETF during the second quarter, valued at approximately $25,000. North Capital Inc. significantly increased its stake in the ETF by 133.1% in the third quarter, now holding 571 shares valued at $37,000 after acquiring an additional 326 shares.
Other notable transactions include PMV Capital Advisers LLC purchasing a new position worth $38,000 in the second quarter, while Banque Transatlantique SA also entered the market with a position valued at $35,000 in the first quarter. Vermillion Wealth Management Inc. exhibited a remarkable increase of 324.2% in its position during the second quarter, now owning 649 shares valued at $40,000.
Overall, institutional investors and hedge funds collectively own 14.60% of the iShares Core S&P Mid-Cap ETF.
Current Trading Performance
On the trading floor, shares of the iShares Core S&P Mid-Cap ETF opened at $67.33 on Friday. The ETF has experienced fluctuations over the past year, with a low of $50.15 and a high of $68.22. Its performance is reflected in the moving averages, with a 50-day moving average price of $65.61 and a 200-day moving average price of $64.49.
With a market capitalization of $103.32 billion, the iShares Core S&P Mid-Cap ETF operates with a price-to-earnings ratio of 19.00 and a beta of 1.07, indicating its relative volatility compared to the overall market.
The iShares Core S&P Mid-Cap ETF aims to track the performance of the Standard & Poor’s MidCap 400 Index, which reflects the mid-cap segment of the U.S. equity market. This index comprises stocks across diverse industries, including financial services, industrials, and information technology, making it an appealing option for investors seeking exposure to mid-sized companies.
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