MAI Capital Management has increased its stake in the iShares 1-3 Year Treasury Bond ETF (NASDAQ: SHY) by 17.3% during the second quarter of 2023. According to the latest filing with the Securities & Exchange Commission, the institutional investor now holds a total of 99,682 shares, having acquired an additional 14,705 shares during this period. As of the most recent SEC report, these holdings are valued at approximately $8.26 million.
Other significant institutional investors have also adjusted their positions in the iShares 1-3 Year Treasury Bond ETF. For instance, Live Oak Private Wealth LLC increased its holdings by 1.9% during the same quarter, now owning 6,613 shares valued at $548,000 after purchasing an additional 123 shares. MassMutual Private Wealth & Trust FSB made a notable increase of 45.5%, now holding 400 shares worth $33,000 following an acquisition of 125 shares.
Additionally, Robinson Value Management Ltd. raised its position by 0.7% in the first quarter, owning 18,177 shares valued at $1.5 million after acquiring 128 shares. Stolper Co also raised its stake by 1.6%, bringing its total to 8,250 shares worth $684,000, while Invesco Ltd. increased its position by 1.9% to hold 6,996 shares valued at $579,000.
As of now, institutional investors and hedge funds own approximately 23.15% of the iShares 1-3 Year Treasury Bond ETF.
Performance Metrics and Dividend Increase
On Friday, iShares 1-3 Year Treasury Bond ETF opened at $83.03. The ETF has a market capitalization of $23.97 billion, a price-to-earnings (P/E) ratio of 3,747.73, and a beta value of 0.05. The fund’s 50-day simple moving average stands at $82.92, while its 200-day simple moving average is $82.70. Over the past year, the ETF has seen a low of $81.67 and a high of $83.14.
The iShares 1-3 Year Treasury Bond ETF, launched on July 22, 2002, tracks a market-weighted index of U.S. Treasury debt with maturities between one and three years. It is managed by BlackRock, one of the largest asset managers globally. Recently, the fund also announced an increase in its dividend, underscoring its commitment to delivering value to investors.
Investors looking for stable income may find the iShares 1-3 Year Treasury Bond ETF appealing, especially as institutional support continues to grow. The fund’s focus on short-term U.S. Treasury bonds positions it well in a fluctuating interest rate environment.
