Private Trust Co. Sells 15.5% Stake in iShares S&P Mid-Cap 400 Growth ETF

Private Trust Co. NA has reduced its holdings in the iShares S&P Mid-Cap 400 Growth ETF (NYSEARCA:IJK) by 15.5% during the second quarter of 2023. The financial firm now owns 9,809 shares after selling 1,795 shares. As of the end of the quarter, the value of Private Trust Co. NA’s investment stood at approximately $892,000, as reported by HoldingsChannel.com.

This decision comes amid a broader trend of institutional investors adjusting their positions in the ETF. For instance, Brighton Jones LLC increased its stake by 21.5% during the fourth quarter, bringing its total ownership to 7,269 shares valued at $661,000 after acquiring an additional 1,285 shares.

Several other financial entities have also made recent moves regarding the iShares S&P Mid-Cap 400 Growth ETF. Janney Montgomery Scott LLC established a new position in the first quarter worth around $3.994 million. Likewise, Sowell Financial Services LLC and Kingswood Wealth Advisors LLC purchased new positions valued at approximately $406,000 and $268,000, respectively. Furthermore, Envestnet Portfolio Solutions Inc. boosted its holdings by 9.4% in the same quarter, now owning 55,416 shares worth $4.615 million after acquiring an additional 4,767 shares.

Institutional Ownership Trends

Currently, approximately 67.99% of the iShares S&P Mid-Cap 400 Growth ETF is held by hedge funds and institutional investors. This high level of institutional ownership reflects the ETF’s popularity among large financial entities seeking exposure to the mid-cap growth sector of the U.S. equity market.

Shares of the iShares S&P Mid-Cap 400 Growth ETF opened at $94.63 on Friday. The ETF boasts a market capitalization of $8.93 billion, a price-to-earnings (P/E) ratio of 22.45, and a beta of 1.08, indicating its volatility relative to the broader market. The fund’s fifty-day simple moving average is $95.35, while the 200-day average stands at $90.35. Over the past year, the ETF has experienced a low of $71.69 and a high of $100.01.

About the iShares S&P Mid-Cap 400 Growth ETF

The iShares S&P Mid-Cap 400 Growth ETF, previously known as the iShares S&P MidCap 400 Growth Index Fund, aims to replicate the performance of the S&P MidCap 400 Growth Index. This index captures the performance of mid-cap stocks exhibiting strong growth characteristics within the U.S. equity market.

For those interested in monitoring changes in institutional ownership of the iShares S&P Mid-Cap 400 Growth ETF, HoldingsChannel.com provides up-to-date information on 13F filings and insider trades. Additionally, individuals can subscribe to receive daily summaries of news and analyst ratings related to the ETF and similar investment vehicles.