Harbour Investments Cuts Stake in iShares S&P Mid-Cap 400 ETF

Harbour Investments Inc. has reduced its holding in the iShares S&P Mid-Cap 400 Value ETF (NYSEARCA: IJJ) by 23.9% during the second quarter of 2023. The firm sold 501 shares, bringing its total ownership down to 1,592 shares, which were valued at approximately $197,000 according to its latest filing with the Securities and Exchange Commission (SEC).

Several institutional investors have also adjusted their positions in the iShares S&P Mid-Cap 400 Value ETF recently. For instance, von Borstel & Associates Inc. acquired a new stake worth about $27,000 in the first quarter. Similarly, Ryan Investment Management Inc. purchased new shares valued at approximately $31,000 during the second quarter. Furthermore, MorganRosel Wealth Management LLC added a new stake valued at $33,000 in the first quarter.

In a notable move, Signature Resources Capital Management LLC increased its stake by 44.8% during the second quarter, now owning 278 shares worth $34,000 after acquiring an additional 86 shares. Additionally, IMA Advisory Services Inc. joined the list of recent investors by acquiring a new stake worth about $40,000 in the first quarter. Overall, institutional investors control approximately 66.95% of the ETF’s stock.

The iShares S&P Mid-Cap 400 Value ETF opened at $128.94 on Thursday. With a market capitalization of $7.85 billion, the ETF has a price-to-earnings (PE) ratio of 16.13 and a beta of 1.17. Its 50-day simple moving average stands at $129.65, while the 200-day moving average is at $123.60. The fund has experienced a 52-week low of $102.24 and a high of $136.42.

The iShares S&P Mid-Cap 400 Value ETF, formerly known as the iShares S&P MidCap 400 Value Index Fund, aims to replicate the price and yield performance of the S&P MidCap 400 Value Index. This index tracks the mid-cap value segment of the U.S. equity market, specifically focusing on stocks that exhibit the strongest value characteristics among the mid-capitalization stocks.

As institutional investors continue to evaluate their strategies, Harbour Investments’ recent decision highlights the dynamic nature of the investment landscape surrounding mid-cap assets. The ongoing adjustments signal a broader trend of portfolio reallocation in response to market conditions.