JDM Financial Group LLC has acquired a significant stake in the iShares 3-7 Year Treasury Bond ETF (NASDAQ:IEI) during the third quarter of 2023. According to the company’s recent Form 13F filing with the Securities and Exchange Commission, the investment firm purchased 12,039 shares of the ETF, valued at approximately $1,439,000. This new holding represents around 0.6% of JDM Financial Group’s overall investment portfolio, making it the firm’s 25th largest holding.
Other hedge funds have also adjusted their positions in the iShares 3-7 Year Treasury Bond ETF in recent months. For instance, Beacon Capital Management LLC increased its stake by an impressive 102.9% in the second quarter, now owning 211 shares valued at $25,000 after acquiring an additional 107 shares. Similarly, Avion Wealth boosted its holdings by 111.8%, resulting in ownership of 216 shares valued at $25,000 after an acquisition of 114 shares.
In addition to these changes, Migdal Insurance & Financial Holdings Ltd. entered a new position in the ETF, with a value of approximately $25,000. LRI Investments LLC raised its holdings by 231.1%, now owning 245 shares worth $29,000 after purchasing an additional 171 shares. Lastly, Delos Wealth Advisors LLC purchased a new stake in the ETF valued at about $34,000.
The iShares 3-7 Year Treasury Bond ETF has recently seen fluctuations in its stock price. As of Thursday, shares opened at $119.35, reflecting a 0.2% decrease. Over the past year, the stock has experienced a low of $114.51 and a high of $120.43. The ETF’s 50-day moving average currently stands at $119.65, while the 200-day moving average is at $119.24.
The iShares 3-7 Year Treasury Bond ETF, previously known as the iShares Barclays 3-7 Year Treasury Bond Fund, aims to replicate the price and yield performance of the Barclays Capital U.S. 3-7 Year Treasury Bond Index. This index measures the performance of U.S. Treasury obligations with a remaining maturity of between three and seven years. The ETF invests in a representative sample of securities included in the index, ensuring that its investment profile closely mirrors that of the index.
Investors are keenly observing these developments, as adjustments in holdings by major financial groups can signal broader trends in market behavior and investor sentiment. As the financial landscape continues to evolve, the strategic moves by firms like JDM Financial Group will likely remain in focus for analysts and investors alike.
