Dakota Wealth Management has reduced its stake in the iShares TIPS Bond ETF (NYSEARCA:TIP) by 7.6% during the third quarter of 2023. According to a recent filing with the Securities and Exchange Commission (SEC), the institutional investor now holds 258,238 shares of the exchange-traded fund (ETF) after selling 21,343 shares during the quarter. At the end of this reporting period, Dakota Wealth Management’s holdings were valued at approximately $28,721,000, representing about 0.20% of the ETF.
Several other prominent investors have also adjusted their positions in the iShares TIPS Bond ETF. Bank of America Corp DE increased its stake by 11.0% during the second quarter, bringing its total holdings to 12,965,639 shares, valued at $1,426,739,000. This change was facilitated by the acquisition of an additional 1,281,679 shares.
In a significant move, HSBC Holdings PLC raised its investment in the ETF by an astonishing 4,627.6% during the same period. HSBC now owns 2,910,259 shares worth $320,274,000 after purchasing an additional 2,848,700 shares last quarter. Other notable adjustments include Envestnet Asset Management Inc., which raised its stake by 0.9%, now holding 2,180,866 shares valued at $239,964,000, and Ameriprise Financial Inc., which increased its holdings by 43.0% to 1,388,933 shares worth $152,991,000.
Institutional investors and hedge funds currently own approximately 63.62% of the iShares TIPS Bond ETF, reflecting a trend of active trading among major financial players.
Current Trading Activity and ETF Overview
The iShares TIPS Bond ETF opened at $111.29 on Tuesday, with a 52-week trading range between a low of $106.47 and a high of $112.26. The ETF has a market capitalization of $13.94 billion, a price-to-earnings ratio of 12.40, and a beta of 0.26.
The fund, formerly known as the iShares Barclays Treasury Inflation Protected Securities Bond Fund, aims to reflect the price and yield performance of the Barclays U.S. Treasury Inflation Protected Securities (TIPS) Index. This Index measures the performance of inflation-protected public obligations issued by the United States Treasury, commonly referred to as TIPS. These securities are investment-grade rated, have at least one year until maturity, and must have a face value of at least $250 million.
As institutional investors continue to adjust their positions, the iShares TIPS Bond ETF remains a focal point for those seeking exposure to inflation-protected securities in the current economic climate.
