Dakota Wealth Management has reduced its holdings in the iShares TIPS Bond ETF (NYSEARCA:TIP) by 7.6% during the third quarter of 2023. This decision was disclosed in their most recent 13F filing with the Securities and Exchange Commission (SEC). Following the sale of 21,343 shares, Dakota now holds 258,238 shares of the exchange-traded fund, which amounted to approximately $28,721,000 at the close of the reporting period.
Several notable institutional investors have also adjusted their positions in the iShares TIPS Bond ETF recently. For instance, Bank of America Corp DE increased its stake by 11.0% in the second quarter, now owning 12,965,639 shares valued at $1.43 billion after acquiring an additional 1,281,679 shares.
In a remarkable shift, Hsbc Holdings PLC raised its holdings by an astounding 4,627.6%, bringing its total to 2,910,259 shares, worth $320,274,000. This increase followed the purchase of 2,848,700 shares during the last quarter. Additionally, Envestnet Asset Management Inc. and Ameriprise Financial Inc. also reported increases of 0.9% and 43.0% respectively, showcasing the growing interest in this exchange-traded fund.
As of now, institutional investors and hedge funds collectively own 63.62% of the iShares TIPS Bond ETF, indicating a strong institutional presence in the market.
Current Market Performance
The iShares TIPS Bond ETF opened trading at $111.29 on Tuesday, reflecting a slight increase of 0.1%. Over the past year, the stock has fluctuated between a low of $106.47 and a high of $112.26. It currently boasts a market capitalization of $13.94 billion and a price-to-earnings ratio of 12.40, with a beta of 0.26. The ETF’s 50-day moving average price stands at $110.39, while the 200-day moving average price is $110.83.
The iShares TIPS Bond ETF, formerly known as the iShares Barclays Treasury Inflation Protected Securities Bond Fund, aims to mirror the price and yield performance of the Barclays U.S. Treasury Inflation Protected Securities (TIPS) Index. This index includes publicly issued U.S. Treasury inflation-protected securities with at least one year remaining to maturity, rated investment-grade and having a face value of at least $250 million.
With adjustments from significant institutional investors, the iShares TIPS Bond ETF continues to attract attention as a viable investment option in the current economic climate.
