Patriot Financial Group Insurance Agency LLC has invested approximately $525,000 in the iShares Short Duration Bond Active ETF (BATS: NEAR) during the third quarter of 2023. The agency acquired 10,230 shares of the exchange-traded fund, marking a significant move in its investment strategy, according to data from HoldingsChannel.
The iShares Short Duration Bond Active ETF focuses on investment-grade fixed income securities. The fund aims to maximize income while preserving capital, utilizing very short maturity, USD-denominated global fixed income securities in an actively managed format. Launched on September 25, 2013, the ETF is managed by BlackRock.
Other institutional investors have also recently taken positions in NEAR. Ameritas Advisory Services LLC entered the market in the second quarter with a new investment valued at $47,000. AE Wealth Management LLC increased its stake in the ETF by 27.1% during the same period, now holding 1,023 shares worth approximately $52,000 after acquiring an additional 218 shares.
Further expanding their investments, Tower Research Capital LLC purchased a new position in NEAR valued at $76,000. Davidson Capital Management Inc. significantly lifted its stake by 92.1% in the second quarter, now owning 1,704 shares worth about $87,000 after adding 817 shares during the last quarter. Spire Wealth Management also increased its holdings by 41.5%, owning 1,926 shares valued at $98,000 after purchasing an additional 565 shares.
As of the latest trading session, NEAR opened at $51.02, reflecting a 1.2% increase. The ETF’s 50-day moving average stands at $51.21, while its 200-day moving average is $51.10. Over the past year, NEAR has seen a low of $50.25 and a high of $51.40, indicating relative stability in its trading range.
The trend of institutional investment in NEAR highlights a growing confidence in the ETF’s strategy to navigate the current economic landscape. As the financial environment evolves, the interest from various investment firms underscores a collective pursuit of stable income through fixed income securities. For further details on hedge fund activities surrounding NEAR, investors can visit HoldingsChannel.com for the latest 13F filings and insider trades.
In conclusion, the substantial investment by Patriot Financial Group and other financial institutions reflects a strategic focus on resilient investment opportunities in the bond market, particularly through actively managed ETFs like iShares NEAR.
