iShares TIPS Bond ETF $TIP Shares Purchased by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. boosted its stake in shares of iShares TIPS Bond ETF (NYSEARCA:TIP) by 44.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,471,634 shares of the exchange traded fund’s stock after acquiring an additional 451,450 shares during the quarter. iShares TIPS Bond ETF makes up 5.1% of Sumitomo Life Insurance Co.’s investment portfolio, making the stock its 2nd biggest position. Sumitomo Life Insurance Co.’s holdings in iShares TIPS Bond ETF were worth $163,675,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in TIP. Root Financial Partners LLC purchased a new position in shares of iShares TIPS Bond ETF during the 3rd quarter worth approximately $33,000. Abound Wealth Management acquired a new position in iShares TIPS Bond ETF during the third quarter worth $41,000. Financial Gravity Companies Inc. purchased a new position in shares of iShares TIPS Bond ETF during the second quarter worth $43,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of iShares TIPS Bond ETF in the second quarter valued at $47,000. Finally, Johnson Financial Group Inc. acquired a new stake in shares of iShares TIPS Bond ETF in the second quarter valued at $52,000. 63.62% of the stock is owned by hedge funds and other institutional investors.

iShares TIPS Bond ETF Trading Up 0.1%

TIP stock opened at $111.41 on Thursday. The business’s fifty day moving average price is $110.43 and its 200 day moving average price is $110.85. iShares TIPS Bond ETF has a 12-month low of $106.47 and a 12-month high of $112.26. The company has a market capitalization of $13.96 billion, a PE ratio of 12.40 and a beta of 0.26.

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). 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.