Spire Wealth Management has decreased its holdings in the iShares Russell 2000 Value ETF (NYSEARCA:IWN) by 17.2% during the second quarter of 2023. The firm sold 478 shares, bringing its total ownership to 2,296 shares, valued at approximately $362,000 at the end of the reporting period, according to HoldingsChannel.com.
Other institutional investors have also adjusted their stakes in the iShares Russell 2000 Value ETF. Notably, the Alaska Permanent Fund Corp significantly increased its investment, raising its stake by 94.9% in the first quarter. This adjustment resulted in ownership of 2,402,269 shares, valued at approximately $347.8 million, following the acquisition of an additional 1,169,735 shares.
In a similar vein, Wellington Management Group LLP bolstered its position in the ETF by 225.6%, now holding 512,305 shares worth around $77.3 million after purchasing an additional 354,975 shares during the same period. Banco Bilbao Vizcaya Argentaria S.A. made a new investment in the ETF, valued at about $18.8 million, while TIAA Trust National Association increased its stake by 3.9%, now owning 2,843,511 shares valued at approximately $429.3 million after acquiring an additional 105,613 shares.
Additionally, Citigroup Inc. raised its stake by 49.9% to hold 232,085 shares valued at about $35 million after an increase of 77,235 shares. Overall, institutional investors control approximately 74.70% of the iShares Russell 2000 Value ETF.
Current Trading Performance
As of Monday, shares of the iShares Russell 2000 Value ETF opened at $177.13. The fund boasts a market capitalization of $11.72 billion and a price-to-earnings ratio of 14.35, alongside a beta of 1.09. Over the past year, the ETF has experienced a low of $129.38 and a high of $183.51. Its 50-day moving average price stands at $176.79, with a two-hundred day moving average at $163.65.
The iShares Russell 2000 Value ETF aims to replicate the performance of the Russell 2000 Value Index, which focuses on equity securities with lower price-to-book ratios and anticipated growth rates among small-cap companies. This ETF serves as a key investment vehicle for those looking to gain exposure to the value segment of the small-cap equity market.
For those interested in further developments related to the iShares Russell 2000 Value ETF, additional insights and updates can be found on HoldingsChannel.com.
