Summit Wealth Group LLC Lowers Position in iShares TIPS Bond ETF (NYSEARCA:TIP)

Summit Wealth Group LLC lessened its stake in iShares TIPS Bond ETF (NYSEARCA:TIP) by 8.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 14,497 shares of the exchange traded fund’s stock after selling 1,314 shares during the quarter. Summit Wealth Group LLC’s holdings in iShares TIPS Bond ETF were worth $1,601,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TIP. William B. Walkup & Associates Inc. purchased a new position in shares of iShares TIPS Bond ETF in the 2nd quarter worth about $26,000. Private Ocean LLC grew its holdings in shares of iShares TIPS Bond ETF by 66.7% during the 2nd quarter. Private Ocean LLC now owns 290 shares of the exchange traded fund’s stock valued at $31,000 after purchasing an additional 116 shares during the last quarter. Gradient Investments LLC lifted its stake in iShares TIPS Bond ETF by 352.7% in the second quarter. Gradient Investments LLC now owns 335 shares of the exchange traded fund’s stock worth $36,000 after purchasing an additional 261 shares during the last quarter. Eastern Bank purchased a new stake in iShares TIPS Bond ETF during the third quarter valued at about $37,000. Finally, Hobbs Group Advisors LLC purchased a new stake in iShares TIPS Bond ETF during the second quarter valued at about $40,000.

iShares TIPS Bond ETF Trading Up 0.2 %

TIP opened at $107.71 on Tuesday. iShares TIPS Bond ETF has a 12 month low of $104.19 and a 12 month high of $111.06. The business’s 50-day moving average price is $109.23 and its 200-day moving average price is $108.04. The company has a market cap of $18.69 billion, a P/E ratio of 11.86 and a beta of 0.09.

iShares TIPS Bond ETF Profile

iShares TIPS Bond ETF (the Fund), formerly iShares Barclays Treasury Inflation Protected Securities Bond Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Barclays U.S. Treasury Inflation Protected Securities (TIPS) Index (Series-L) (the Index).