RiverFront Investment Group Cuts Stake in Invesco RAFI ETF by 34%

RiverFront Investment Group LLC has significantly reduced its holdings in the Invesco RAFI US 1500 Small-Mid ETF (NASDAQ: PRFZ) by 34.2% during the second quarter of 2023. According to recent filings with the Securities and Exchange Commission, the firm now owns 7,975 shares after selling 4,149 shares in the quarter. The remaining shares are valued at approximately $324,000.

The reduction in holdings comes amid a broader trend where several institutional investors have been adjusting their positions in the ETF. For instance, Private Trust Co. NA increased its stake in the Invesco RAFI ETF by 33.0%, now owning 1,323 shares worth around $54,000 after acquiring an additional 328 shares. Similarly, Farther Finance Advisors LLC raised its stake by an impressive 61.3%, bringing its total to 1,574 shares, valued at $64,000.

In addition to these adjustments, Harbor Asset Planning Inc. and Atlantic Union Bankshares Corp. each established new stakes in the ETF, worth approximately $65,000 and $70,000 respectively. Notably, IFP Advisors Inc. dramatically increased its stake by an extraordinary 7,284.6% in the first quarter, acquiring 1,920 shares now valued at $73,000.

Current Performance of Invesco RAFI US 1500 Small-Mid ETF

As of the latest trading session, Invesco RAFI US 1500 Small-Mid ETF opened at $45.76. The stock has demonstrated a robust performance with a 50-day simple moving average of $45.23 and a 200-day simple moving average of $42.94. Over the past year, the ETF has seen a low of $32.53 and a high of $46.83. Currently, the ETF holds a market capitalization of $2.58 billion, a price-to-earnings ratio of 18.02, and a beta of 1.11.

About the Invesco RAFI US 1500 Small-Mid ETF

The Invesco RAFI US 1500 Small-Mid ETF, launched on September 20, 2006, is an exchange-traded fund that tracks the FTSE RAFI US 1500 index. This index comprises 1,500 small- and mid-cap companies in the United States, selected based on fundamental metrics. The ETF is managed by Invesco, a global investment management firm.

For those interested in the latest updates on institutional holdings in the Invesco RAFI US 1500 Small-Mid ETF, Holdings Channel provides comprehensive resources, including recent 13F filings and insider trades. Subscribers can also receive a daily summary of news and analysts’ ratings related to the ETF and similar investment vehicles.