PNC Financial Services Group Inc. has significantly increased its investment in the SPDR Portfolio Emerging Markets ETF (NYSEARCA:SPEM) by 17.6% during the third quarter of 2023. According to the firm’s latest Form 13F filing with the Securities & Exchange Commission, PNC now holds 393,256 shares of the ETF, having acquired an additional 58,929 shares during this period. The total value of PNC’s holdings in SPEM is approximately $18,408,000.
Several other institutional investors have also made notable adjustments to their positions in SPEM. For example, Hantz Financial Services Inc. increased its holdings by an astounding 2,031.0% in the same quarter, now owning 618 shares valued at about $27,000 after purchasing an additional 589 shares. Additionally, First Horizon Corp established a new stake worth approximately $29,000, while Stone House Investment Management LLC acquired a new position valued at around $40,000.
Other firms also made significant investments, including Addison Advisors LLC and Blue Trust Inc.. Addison Advisors purchased a stake in the second quarter worth about $49,000, whereas Blue Trust increased its holdings by 539.1% during the third quarter, now owning 1,227 shares valued at $57,000.
SPDR Portfolio Emerging Markets ETF Overview
The SPDR Portfolio Emerging Markets ETF is designed to track the S&P Emerging Markets BMI index, which comprises companies from emerging markets weighted by market capitalization. Launched on March 19, 2007, the fund is managed by State Street and has grown to become a significant player in the emerging markets investment space.
As of the latest trading session, SPEM shares opened at $50.28. The ETF has demonstrated stable performance with a 50-day simple moving average of $48.44 and a 200-day simple moving average of $47.00. The ETF boasts a market capitalization of $16.79 billion, a price-to-earnings ratio of 15.39, and a beta of 0.56. Over the past year, the ETF has registered a low of $34.38 and a high of $51.05.
Investors interested in tracking the latest developments regarding SPEM can visit HoldingsChannel.com for comprehensive insights into the ETF’s 13F filings and insider trades. Furthermore, MarketBeat.com offers a free daily email newsletter summarizing the latest news and analysts’ ratings for SPDR Portfolio Emerging Markets ETF and related companies.
