Fort Point Capital Increases Stake in Vanguard Tax-Exempt Bond ETF

Fort Point Capital Partners LLC has significantly increased its investment in the Vanguard Tax-Exempt Bond ETF (NYSEARCA: VTEB) by 26.2% during the third quarter of 2023, as disclosed in its latest filing with the Securities and Exchange Commission. The investment firm now owns a total of 672,129 shares after acquiring an additional 139,659 shares in this period, positioning VTEB as its fourth largest holding, constituting approximately 4.0% of its overall investment portfolio.

As of the most recent filing, Fort Point Capital holds approximately 0.08% of Vanguard Tax-Exempt Bond ETF, valued at around $33.65 million. This increase in stake follows a notable trend, as several other hedge funds have also adjusted their positions in the ETF.

Notable Changes Among Other Investors

JPMorgan Chase & Co. has made substantial moves, boosting its stake in Vanguard Tax-Exempt Bond ETF by 39.8% during the second quarter. The firm now owns 108,048,493 shares, which are valued at approximately $5.30 billion after acquiring an additional 30,774,028 shares in the last quarter.

Additionally, Northwestern Mutual Wealth Management Co. has increased its position in the ETF by 1.9%, now holding 35,166,659 shares worth around $1.72 billion. Wealthfront Advisers LLC also expanded its investment, raising its stake by 6.4% in the third quarter, bringing its total to 22,264,110 shares valued at about $1.11 billion.

Raymond James Financial Inc. and TIAA Trust National Association have also made noteworthy adjustments. Raymond James increased its holdings by 1.8%, totaling 22,217,280 shares worth approximately $1.11 billion, while TIAA Trust boosted its stake by 14.4% to own 14,255,500 shares valued at around $713.77 million.

Performance and Profile of Vanguard Tax-Exempt Bond ETF

On Monday, shares of the Vanguard Tax-Exempt Bond ETF opened at $50.36. The ETF has experienced a 52-week range, with a low of $47.02 and a high of $51.18. It currently shows a 50-day moving average price of $50.64 and a 200-day moving average price of $50.33.

Launched on August 21, 2015, the Vanguard Tax-Exempt Bond ETF primarily invests in investment-grade fixed income, tracking a market-weighted index of debt issued by state and local governments and agencies. The interest generated from these investments is exempt from US income tax and the Alternative Minimum Tax (AMT).

Investors interested in the latest holdings and changes among hedge funds can visit HoldingsChannel.com for comprehensive updates and analysis regarding Vanguard Tax-Exempt Bond ETF and its market performance.