Brookstone Capital Management Increases Holdings in iShares Russell Mid-Cap Growth ETF

Brookstone Capital Management has announced a significant increase in its investment in the iShares Russell Mid-Cap Growth ETF (NYSEARCA:IWP). In the third quarter, the firm's position in this exchange-traded fund grew by 19.8%, as detailed in their recent Form 13F filing with the Securities and Exchange Commission. After adding 2,261 shares, Brookstone Capital now holds a total of 13,683 shares in the ETF, which amounts to an investment valued at approximately $1,605,000.

Other institutional investors have also made noteworthy changes to their holdings of the iShares Russell Mid-Cap Growth ETF in recent months. CNB Bank, for instance, saw a remarkable increase of 970.8% in its position during the first quarter, bringing its total to 257 shares valued at $29,000 after purchasing an additional 233 shares. Additionally, Richardson Financial Services Inc. bought into the ETF for the first time in the fourth quarter, acquiring a stake valued around $32,000.

Adirondack Trust Co. also raised its holdings by 78.3% during the second quarter, accumulating 296 shares worth $33,000 following an acquisition of 130 shares. Similarly, Lynx Investment Advisory entered the fray with a new investment in the ETF valued at $33,000 in the same quarter. Furthermore, Northwest Bank & Trust Co. established a new position in the ETF during the fourth quarter, valued at $36,000.

Performance of iShares Russell Mid-Cap Growth ETF

On Friday, shares of the iShares Russell Mid-Cap Growth ETF began trading at $121.16. The ETF has experienced a 12-month low of $85.24 and a high of $121.35. With a market capitalization of $15.67 billion, it has a price-to-earnings (P/E) ratio of 29.60 and a beta of 1.15, indicating its volatility relative to the market. The fund's fifty-day simple moving average is noted at $113.11, while the two-hundred-day simple moving average stands at $111.35.

Overview of iShares Russell Mid-Cap Growth ETF

The iShares Russell Mid-Cap Growth ETF is designed to emulate the performance, before fees and expenses, of the Russell Midcap Growth Index. This fund aims to achieve investment results that typically mirror the price and yield of the underlying index.

Related Insights

This strategic move by Brookstone Capital Management reflects a broader trend where various institutional investors are realigning their portfolios with significant adjustments to their investments in ETFs. Such movements can indicate increasing confidence in the growth potential of mid-cap stocks, offering investors an attractive avenue for diversified growth opportunities.

As market conditions fluctuate, the interest in growth-oriented funds like the iShares Russell Mid-Cap Growth ETF continues to capture the attention of institutional investors, highlighting their strategic approach towards capital allocation.

Investment, ETFs, Growth