MN Wealth Advisors Divests Shares in iShares Core S&P 500 ETF

MN Wealth Advisors LLC has reduced its stake in the iShares Core S&P 500 ETF (NYSEARCA: IVV) by 5.6% during the second quarter of 2023. According to its latest disclosure with the Securities & Exchange Commission, the institutional investor now holds 1,429 shares after selling 85 shares during this period. The value of MN Wealth Advisors’ holdings in the ETF is estimated at $888,000.

Several other institutional investors have also adjusted their positions in the iShares Core S&P 500 ETF recently. Notably, New Vernon Capital Holdings II LLC significantly increased its stake by a staggering 53,779.2% in the first quarter. This firm now owns 24,775,295 shares, which are valued at approximately $13.9 billion following a purchase of an additional 24,729,312 shares.

Meanwhile, JPMorgan Chase & Co. raised its position in the ETF by 31.4% during the same quarter, acquiring 5,708,115 shares to reach a total of 23,892,610 shares valued at around $13.4 billion. Additionally, Millennium Management LLC boosted its holdings by 67.7%, now owning 9,308,270 shares worth approximately $5.2 billion after acquiring 3,757,143 shares.

Also noteworthy is Goldman Sachs Group Inc., which grew its stake in the ETF by 27.7%. The firm currently holds 12,472,337 shares valued at about $7 billion after purchasing an additional 2,703,613 shares. Wealthspire Advisors LLC increased its stake by 102.8%, owning 5,183,932 shares valued at around $2.9 billion.

Institutional investors and hedge funds now control approximately 70.12% of the iShares Core S&P 500 ETF’s shares.

Current Market Performance

As of the latest trading session, shares of the iShares Core S&P 500 ETF opened at $680.52. The fund has shown a 0.8% increase in value and has a 50-day moving average price of $660.89, with a 200-day moving average of $619.75. Over the past year, the ETF has experienced a low of $484.00 and a high of $681.80.

The iShares Core S&P 500 ETF, which aims to replicate the performance of the Standard & Poor’s 500 Index, remains a popular choice among investors seeking exposure to large-cap U.S. equities. The fund currently boasts a market capitalization of $713.66 billion, a price-to-earnings ratio of 25.10, and a beta of 1.00, indicating its performance is expected to correlate closely with the broader market.

For those interested in further developments related to the iShares Core S&P 500 ETF, resources such as HoldingsChannel.com provide insights into the latest 13F filings and insider trades.