Park Place Capital Corp has increased its stake in the iShares Core S&P 500 ETF (NYSEARCA: IVV) by 13.6% during the third quarter of 2023. According to the most recent 13F filing with the Securities and Exchange Commission (SEC), the institutional investor now holds a total of 38,377 shares after acquiring an additional 4,594 shares during the period. This investment represents 5.4% of Park Place Capital’s overall portfolio, making it the firm’s second-largest holding, valued at approximately $25,686,000.
Several other institutional investors have also adjusted their positions in the iShares Core S&P 500 ETF. Notably, Northwestern Mutual Wealth Management Co. increased its stake by 3.8% in the second quarter, bringing its total to 32,488,472 shares, worth around $20.17 billion. Similarly, JPMorgan Chase & Co. raised its holdings by 18.3%, now owning 28,271,587 shares valued at approximately $17.55 billion after purchasing an additional 4,378,977 shares.
Another significant player, Creative Planning, raised its holdings by 1.8%, increasing its total to 22,229,974 shares, worth about $13.80 billion. Meanwhile, PNC Financial Services Group Inc. boosted its position by 0.7% with 15,375,370 shares now valued at approximately $9.55 billion. Furthermore, Jones Financial Companies Lllp increased its stake by 18.5% during the first quarter with a total of 14,282,483 shares valued at around $7.97 billion.
As of now, institutional investors and hedge funds collectively own 70.12% of the iShares Core S&P 500 ETF.
Current Performance and Market Overview
The iShares Core S&P 500 ETF opened at $690.79 on Tuesday. The ETF has experienced a one-year low of $484.00 and a one-year high of $694.70. With a market capitalization of $766.81 billion, the ETF boasts a price-to-earnings ratio of 25.10 and a beta of 1.00. Its 50-day moving average stands at $682.62, while the 200-day moving average is approximately $659.62.
The iShares Core S&P 500 ETF is designed to provide investment results that correspond generally to the price and yield performance of the Standard & Poor’s 500 Index. This index measures the performance of large-capitalization stocks in the United States equity market, with component stocks weighted according to their total float-adjusted market value. The fund invests in a representative sample of the securities included in the index to create an investment profile that mirrors that of the index itself.
For those interested in tracking further developments regarding the iShares Core S&P 500 ETF, information on recent 13F filings and insider trades can be accessed via HoldingsChannel.com. Additionally, investors may sign up for a daily summary of news and analyst ratings related to the ETF through MarketBeat’s free newsletter.
