PNC Financial Services Group Inc. has reduced its stake in the Vanguard FTSE Emerging Markets ETF (NYSEARCA:VWO) by 0.5% in the second quarter of 2023. According to data from HoldingsChannel.com, PNC now holds 10,217,598 shares of the fund after selling 48,168 shares during the period. The total value of PNC’s holdings in the ETF is approximately $505,362,000 based on its latest filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also made adjustments to their positions in the ETF. Baker Boyer National Bank increased its holdings by 1.9%, now owning 11,030 shares valued at $546,000 after acquiring an additional 201 shares. Similarly, Family CFO Inc. boosted its position by 0.3%, bringing its total to 71,994 shares worth $3,561,000 after purchasing 209 additional shares.
Pitti Group Wealth Management LLC raised its stake by 3.7%, now holding 6,090 shares valued at $301,000 after acquiring 218 more shares. Dover Advisors LLC increased its holdings by 2.6%, owning 8,732 shares worth $432,000 following the acquisition of 222 additional shares. Notably, Financial Network Wealth Advisors LLC significantly expanded its stake by 19.6% in the first quarter, now owning 1,387 shares valued at $63,000.
As of now, institutional investors and hedge funds collectively own 67.19% of shares in the Vanguard FTSE Emerging Markets ETF, indicating strong institutional interest in this fund.
Current Performance and Market Position
On the market, shares of the Vanguard FTSE Emerging Markets ETF opened at $55.33 on Wednesday. The ETF’s 50-day simple moving average stands at $54.20, while the 200-day moving average is at $50.93. The ETF has experienced a one-year low of $39.53 and a one-year high of $56.04.
With a total market capitalization of $104.62 billion, the Vanguard FTSE Emerging Markets ETF has a price-to-earnings (PE) ratio of 15.08 and a beta of 0.55, reflecting its relatively stable performance compared to the broader market.
The Vanguard FTSE Emerging Markets ETF aims to track the performance of the FTSE Emerging Markets All Cap China A Inclusion Index, which measures the returns of stocks issued by companies located in emerging market countries. This strategy appeals to investors looking for exposure to diverse markets and potential growth opportunities.
For those interested in tracking institutional holdings and getting updates on the Vanguard FTSE Emerging Markets ETF, HoldingsChannel.com provides daily summaries of news and analysts’ ratings.
