SKY Mountain Capital Management Inc. has significantly reduced its holdings in the Vanguard Growth ETF (NYSEARCA: VUG) by 30.6% during the second quarter of 2023. This information was disclosed in the company’s recent 13F filing with the U.S. Securities and Exchange Commission (SEC). Following this reduction, SKY Mountain now holds 5,760 shares of the ETF, having sold 2,542 shares in the quarter.
As of the latest reporting period, the Vanguard Growth ETF accounts for 1.8% of SKY Mountain’s portfolio, making it the firm’s 10th largest holding. The value of these holdings is approximately $2,625,000. This decision reflects broader trends among institutional investors as they adjust their portfolios in response to market conditions.
Several other hedge funds have also adjusted their positions in the Vanguard Growth ETF recently. Allianz SE made a new investment in the first quarter valued at around $29,000. Similarly, Costello Asset Management INC bought new shares worth approximately $31,000. Other firms, including Legend Financial Advisors Inc., Biltmore Family Office LLC, and Mowery & Schoenfeld Wealth Management LLC, also acquired new stakes in the ETF during the second quarter, each valued around $31,000 to $32,000.
Current Market Performance of Vanguard Growth ETF
As of Thursday, shares of Vanguard Growth ETF opened at $476.59. The stock has shown a 50-day moving average of $483.63 and a 200-day moving average of $452.76. With a market capitalization of approximately $193.46 billion, the ETF has a price-to-earnings (P/E) ratio of 36.22 and a beta of 1.17, indicating its volatility relative to the broader market.
In the past year, the Vanguard Growth ETF has experienced a notable range in performance, with a low of $316.14 and a high of $505.38. These fluctuations highlight the challenges and opportunities present in the growth stock market.
Understanding Vanguard Growth ETF
The Vanguard Growth ETF, previously known as the Vanguard Growth Index Fund, employs a passive management strategy designed to track the performance of the MSCI US Prime Market Growth Index. This index comprises a diversified range of growth stocks from large companies in the United States, aiming to provide investors with exposure to high-potential growth sectors.
For those interested in monitoring institutional investments in the Vanguard Growth ETF, resources such as HoldingsChannel.com provide the latest 13F filings and insider trades. Additionally, MarketBeat.com offers a daily summary of news and analysts’ ratings for the Vanguard Growth ETF and related companies.
This strategic decision by SKY Mountain Capital underscores the dynamic nature of investment management and the ongoing shifts in the financial landscape. As institutional investors navigate current market conditions, their actions provide insight into broader investment trends.
