In a significant move during the second quarter of 2023, Financial Avengers Inc. increased its holdings in the iShares Broad USD Investment Grade Corporate Bond ETF (NASDAQ: USIG) by 17.7%, as reported in its latest Form 13F filing with the Securities and Exchange Commission (SEC). This acquisition added 9,642 shares to its portfolio, bringing the total to 64,262 shares. The ETF now represents approximately 1.5% of Financial Avengers Inc.’s overall investment portfolio, making it the firm’s 16th largest holding.
As of the most recent filing, the value of Financial Avengers Inc.’s investment in the iShares ETF stood at about $3.3 million. This increase in stake highlights a growing interest among institutional investors in the iShares Broad USD Investment Grade Corporate Bond ETF, which aims to track a market-value-weighted index of USD-denominated, investment-grade corporate debt.
Institutional Investor Movements
Several other institutional investors have also adjusted their positions in the iShares ETF. Notably, TIAA Trust National Association expanded its stake by an impressive 317.1%, acquiring an additional 17,621,424 shares during the same quarter. This brings its total holdings to 23,177,950 shares, valued at approximately $1.19 billion.
Another significant player, Jones Financial Companies Lllp, significantly increased its holdings by 5,876.8% in the first quarter, now owning 321,791 shares worth $16.4 million. Flow Traders U.S. LLC entered the market with a new stake valued at around $4.2 million, while ST Germain D J Co. Inc. raised its position by 13.6%, owning 385,500 shares now worth $19.8 million.
Lastly, JPMorgan Chase & Co. also increased its holdings by 2.5% during the second quarter, totaling 1,376,544 shares valued at approximately $70.8 million.
Current Performance and Company Overview
As of the latest trading session, shares of the iShares Broad USD Investment Grade Corporate Bond ETF opened at $52.42. The ETF’s performance metrics indicate a 50-day simple moving average of $52.19 and a 200-day simple moving average of $51.52. Over the past year, the ETF has seen a low of $49.10 and a high of $52.72.
Managed by BlackRock, the iShares Broad USD Investment Grade Corporate Bond ETF was launched on January 5, 2007. It is designed to offer investors exposure to a diversified portfolio of investment-grade corporate bonds, making it an appealing option for those seeking stable returns in the current economic climate.
Overall, the increasing stakes by various institutional investors reflect a robust interest in the iShares ETF, underscoring its potential as a key component in investment strategies focused on fixed-income assets.
