Maridea Wealth Management LLC Invests $1.01 Million in iShares TIPS Bond ETF $TIP

Maridea Wealth Management LLC bought a new stake in iShares TIPS Bond ETF (NYSEARCA:TIP) during the third quarter, HoldingsChannel.com reports. The fund bought 9,018 shares of the exchange traded fund’s stock, valued at approximately $1,008,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its holdings in iShares TIPS Bond ETF by 11.0% during the second quarter. Bank of America Corp DE now owns 12,965,639 shares of the exchange traded fund’s stock valued at $1,426,739,000 after purchasing an additional 1,281,679 shares in the last quarter. Hsbc Holdings PLC lifted its position in shares of iShares TIPS Bond ETF by 4,627.6% during the 2nd quarter. Hsbc Holdings PLC now owns 2,910,259 shares of the exchange traded fund’s stock worth $320,274,000 after buying an additional 2,848,700 shares during the period. Envestnet Asset Management Inc. boosted its stake in iShares TIPS Bond ETF by 0.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,180,866 shares of the exchange traded fund’s stock valued at $239,964,000 after buying an additional 19,125 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in iShares TIPS Bond ETF by 43.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,388,933 shares of the exchange traded fund’s stock valued at $152,991,000 after buying an additional 417,901 shares in the last quarter. Finally, Assetmark Inc. grew its position in iShares TIPS Bond ETF by 4.1% in the second quarter. Assetmark Inc. now owns 1,304,696 shares of the exchange traded fund’s stock valued at $143,569,000 after acquiring an additional 50,824 shares during the period. Institutional investors and hedge funds own 63.62% of the company’s stock.

iShares TIPS Bond ETF Price Performance

iShares TIPS Bond ETF stock opened at $111.16 on Thursday. The firm has a market capitalization of $13.93 billion, a P/E ratio of 12.40 and a beta of 0.26. The stock has a fifty day moving average price of $110.33 and a two-hundred day moving average price of $110.81. iShares TIPS Bond ETF has a 52-week low of $106.47 and a 52-week high of $112.26.

About iShares TIPS Bond ETF

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). The Index measures the performance of the inflation-protected public obligations of the United States Treasury, commonly known as TIPS. The Underlying Index includes all publicly-issued the United States Treasury inflation-protected securities that have at least one year remaining to maturity, are rated investment-grade and have $250 million or more of face value.