New Age Alpha Advisors LLC has reduced its investment in the iShares Russell Mid-Cap Value ETF (NYSEARCA: IWS) by an impressive 43.4% during the third quarter of 2023. The institutional investor now holds 21,810 shares after selling 16,751 shares in the period, according to a recent filing with the U.S. Securities and Exchange Commission (SEC). As of the end of this reporting period, these holdings were valued at approximately $3,046,000.
Several other institutional investors have also adjusted their positions in the iShares Russell Mid-Cap Value ETF. Cahaba Wealth Management Inc. increased its stake by 1.9%, bringing its total to 4,040 shares worth $564,000 after acquiring an additional 74 shares. Horst & Graben Wealth Management LLC raised its holdings by 0.6%, now owning 13,411 shares valued at $1,873,000 following the purchase of 79 more shares.
Pineridge Advisors LLC expanded its position by 6.7%, now holding 1,314 shares valued at $184,000 after acquiring 82 additional shares. Cary Street Partners Financial LLC also boosted its stake by 1.6%, increasing its holdings to 6,236 shares worth $824,000 after acquiring 97 shares. Additionally, Private Wealth Management Group LLC raised its position by 25.5% during the third quarter, bringing its total to 502 shares valued at $70,000 after purchasing 102 shares.
Overall, institutional investors and hedge funds own approximately 80.17% of the iShares Russell Mid-Cap Value ETF, indicating a strong interest in this investment vehicle.
Stock Performance and Market Overview
As of Monday, shares of the iShares Russell Mid-Cap Value ETF opened at $153.91. The ETF has experienced a fifty-two week low of $108.85 and a high of $154.48. The stock’s fifty-day moving average stands at $148.15, while its two-hundred day moving average is $142.25. The ETF has a market capitalization of $15.31 billion, a price-to-earnings (P/E) ratio of 19.11, and a beta of 1.02, reflecting its volatility relative to the market.
The iShares Russell Mid-Cap Value ETF, formerly known as the iShares Russell Midcap Value Index Fund, seeks investment results that generally correspond to the price and yield performance of the Russell Midcap Value Index. This index measures the performance of mid-capitalization value stocks in the United States equity market, focusing on companies with lower price-to-book ratios and slower forecasted growth.
With a notable shift in investor sentiment, the recent adjustments in holdings by institutional investors underscore the dynamic nature of the market and the ongoing interest in mid-cap value stocks. Investors and analysts alike will be closely monitoring developments surrounding the iShares Russell Mid-Cap Value ETF as it continues to navigate the current economic landscape.
