Carnegie Investment Counsel Expands Stake in Vanguard Information Technology ETF

On January 19, 2025, it was reported that Carnegie Investment Counsel has increased its holdings in the Vanguard Information Technology ETF (NYSEARCA:VGT) by 5.4% during the fourth quarter of the fiscal year. This move saw the fund owning a total of 2,269 shares of this exchange-traded fund (ETF) after acquiring an additional 117 shares throughout the period. According to their latest filing with the Securities and Exchange Commission, Carnegie Investment Counsel’s total worth in the Vanguard Information Technology ETF amounted to approximately $1,411,000.

A number of other institutional investors and hedge funds have likewise engaged in buying and selling shares of Vanguard Information Technology ETF recently. For instance, St. Johns Investment Management Company LLC made its entrance into the Vanguard Information Technology ETF in the third quarter with a stake valued at around $30,000. Peterson Financial Group Inc. also initiated a new position with a similar investment in the same quarter. Additionally, Coastline Trust Co and Halpern Financial Inc. newfound holdings in the ETF amounted to approximately $32,000 and $33,000 respectively. In a noteworthy move, Migdal Insurance & Financial Holdings Ltd. increased its position in the Vanguard Information Technology ETF by over 107.1% in that quarter, bringing their total to 58 shares valued at $34,000 after purchasing an extra 30 shares during that time.

Market Performance of Vanguard Information Technology ETF

On the trading day prior to the announcement, the Vanguard Information Technology ETF was seen trading at $627.47. Over the past year, the stock has marked a low of $478.25 and peaked at $648.66. Currently, the ETF boasts a market capitalization of $79.01 billion, along with a price-to-earnings ratio standing at 36.30. Its beta is recorded at 1.41, indicating volatility compared to the market. The ETF also has a 50-day moving average price of $627.16 and a 200-day moving average price of $594.83.

About Vanguard Information Technology ETF

The Vanguard Information Technology ETF aims to track the investment performance of the MSCI US Investable Market Information Technology 25/50 Index. This index serves as a benchmark for large-, mid-, and small-cap stocks in the United States that are classified under the information technology sector according to the Global Industry Classification Standard (GICS).

Conclusion

This increase in holdings by Carnegie Investment Counsel reflects a growing interest among institutional investors in the Vanguard Information Technology ETF, an index that captures the technology sector's performance in the U.S. market.

Vanguard, ETF, Investment