Milestones Private Investment Advisors LLC has made a significant move by acquiring a new position in the iShares Core S&P 500 ETF (NYSEARCA: IVV) during the second quarter of 2023. According to a recent disclosure to the Securities and Exchange Commission, the firm purchased 1,498 shares valued at approximately $930,000. This investment reflects a growing interest among institutional investors in the fund, which aims to track the performance of the Standard & Poor’s 500 Index.
Other major investors have also altered their stakes in the iShares Core S&P 500 ETF recently. Flaharty Asset Management LLC entered the market in the first quarter with a new position worth $28,000. Additionally, Nvwm LLC increased its holdings by an impressive 210.5% during the second quarter, bringing its total to 59 shares valued at $37,000 after acquiring an additional 40 shares.
Hager Investment Management Services LLC also joined the ranks of investors in the second quarter, purchasing a stake worth approximately $61,000. Meanwhile, Rice Partnership LLC lifted its holdings by 460.0% during the same period, now owning 112 shares valued at $70,000 after buying 92 additional shares. Wealth Preservation Advisors LLC also made its presence felt, acquiring a new stake during the first quarter worth $76,000. Overall, hedge funds and institutional investors now control 70.12% of the company’s stock.
The iShares Core S&P 500 ETF saw its shares decline by 1.1% recently, opening at $685.17 on Monday. The ETF has experienced a 12-month low of $484.00 and a high of $693.07. Currently, the stock’s fifty-day simple moving average stands at $677.95, while the two-hundred-day average is $649.83. The fund boasts a market capitalization of $719.09 billion, a price-to-earnings ratio of 25.10, and a beta of 1.00.
The iShares Core S&P 500 ETF is designed to provide investment results that generally correspond to the performance of the Standard & Poor’s 500 Index, which measures the performance of large-capitalization stocks in the United States equity market. As interest in the fund continues to grow, investors are keenly observing its movements in a fluctuating market.
