Asset Dedication LLC Reduces Stake in iShares S&P Mid-Cap 400 Growth ETF

On October 18, 2024, it was reported that Asset Dedication LLC has reduced its investment in the iShares S&P Mid-Cap 400 Growth ETF (NYSEARCA:IJK) by selling 791 shares, which amounts to a 24.5% decrease in its holdings during the third quarter. Following this sale, the firm's ownership of the ETF now stands at 2,431 shares, valued at approximately $223,000 based on the most recent filings with the SEC.

In addition to Asset Dedication LLC, several other institutional investors have also made adjustments to their positions in the iShares S&P Mid-Cap 400 Growth ETF. For instance, Indiana Trust & Investment Management CO raised its stake in the ETF by 12.0% in the first quarter, acquiring 117 additional shares to reach a total of 1,089 shares, worth around $99,000. Similarly, CRA Financial Services LLC increased its position by 2.5%, taking its holdings to 5,840 shares valued at $533,000 after acquiring 140 more shares.

Other notable investors include Country Club Bank, which grew its holdings by 1.1% during the second quarter, owning 12,963 shares valued at $1,143,000 after adding 146 shares. Dumont & Blake Investment Advisors LLC also boosted its investment by 0.5%, resulting in a total of 31,587 shares worth $2,882,000 after buying 151 additional shares. Mattern Wealth Management LLC increased its stake by 2.6% in the earlier quarter, now holding 5,988 shares valued at approximately $546,000 following the purchase of 153 shares.

Current Performance of iShares S&P Mid-Cap 400 Growth ETF

As of October 18, the iShares S&P Mid-Cap 400 Growth ETF opened at $93.91. The ETF has experienced a 52-week low of $67.63 and a high of $94.26. The average price over the past 50 days is $90.24, whereas the 200-day moving average stands at $89.20. The ETF boasts a market capitalization of $10.09 billion, a price-to-earnings ratio of 18.52, and a beta of 1.08, indicating its volatility relative to the market.

Overview of iShares S&P Mid-Cap 400 Growth ETF

The iShares S&P Mid-Cap 400 Growth ETF is designed to track the performance of the S&P MidCap 400 Growth Index. This index represents the mid-cap growth segment of the U.S. equity market, focusing on stocks that demonstrate strong growth characteristics within the S&P MidCap 400 Index. The ETF provides investors with exposure to this specific sector, making it an attractive option for those looking to invest in mid-cap growth securities.

Conclusion

Given the recent activities by Asset Dedication LLC and other hedge funds, the iShares S&P Mid-Cap 400 Growth ETF continues to attract attention in the investment community. As these institutional investors adjust their portfolios, the ETF remains a significant option for those interested in mid-cap growth opportunities.

investment, ETF, shares