Secure Asset Management LLC has significantly reduced its holdings in the Pacer US Cash Cows 100 ETF (BATS:COWZ), decreasing its stake by 62.9% during the third quarter of 2023. According to a recent filing with the U.S. Securities and Exchange Commission (SEC), the firm now owns 7,174 shares after selling 12,175 shares during this period. The value of its remaining shares is approximately $415,000.
This reduction in holdings reflects a broader trend among institutional investors in the ETF. Several firms have either increased or initiated their positions in Pacer US Cash Cows 100 ETF recently. For instance, Proffitt & Goodson Inc. acquired a new stake during the second quarter valued at around $25,000, while Costello Asset Management INC also purchased new shares worth $26,000. Additionally, Redwood Park Advisors LLC added a stake worth $28,000.
Institutional Activity in the ETF
One of the most notable moves came from Newbridge Financial Services Group Inc., which increased its position by an impressive 1,217.5%. The firm now holds 527 shares, worth about $29,000, after acquiring an additional 487 shares in the last quarter. In contrast, Flaharty Asset Management LLC entered the market earlier this year with a stake valued at $31,000.
These changes in ownership reflect the dynamic nature of investment strategies among hedge funds and institutional players. The Pacer US Cash Cows 100 ETF, which tracks a free cash flow-weighted index of companies from the Russell 1000 Index, has seen varied interest from investors.
Performance Metrics of COWZ
As of the latest trading session, shares of COWZ opened at $60.91. The ETF has a fifty-day moving average of $58.74 and a two-hundred-day moving average of $57.26. Over the past year, the stock has experienced a fifty-two week low of $46.64 and a high of $61.92. The ETF maintains a market capitalization of $22.99 billion, with a price-to-earnings ratio of 14.17 and a beta of 0.95.
Launched on December 16, 2016, the Pacer US Cash Cows 100 ETF is managed by Pacer and aims to provide investors with exposure to companies that generate substantial free cash flow. The fluctuations in holdings and the ongoing interest from institutional investors suggest a continued focus on this ETF as part of diverse investment strategies.
