Modern Wealth Management LLC Trims Stake in iShares S&P 500 Growth ETF $IVW

Modern Wealth Management LLC reduced its stake in iShares S&P 500 Growth ETF (NYSEARCA:IVW) by 27.4% in the first quarter, Holdings Channel.com reports. The institutional investor owned 592,856 shares of the company’s stock after selling 223,338 shares during the period. iShares S&P 500 Growth ETF comprises 1.2% of Modern Wealth Management LLC’s holdings, making the stock its 18th largest position. Modern Wealth Management LLC’s holdings in iShares S&P 500 Growth ETF were worth $67,947,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Strive Financial Group LLC bought a new stake in shares of iShares S&P 500 Growth ETF during the fourth quarter valued at approximately $26,000. Turning Point Benefit Group Inc. purchased a new stake in iShares S&P 500 Growth ETF in the third quarter worth $28,000. Decker Retirement Planning Inc. bought a new position in iShares S&P 500 Growth ETF in the fourth quarter worth $28,000. Financial Network Wealth Advisors LLC raised its holdings in iShares S&P 500 Growth ETF by 174.4% in the fourth quarter. Financial Network Wealth Advisors LLC now owns 225 shares of the company’s stock worth $28,000 after purchasing an additional 143 shares in the last quarter. Finally, Darwin Wealth Management LLC purchased a new position in iShares S&P 500 Growth ETF during the second quarter valued at $30,000.

iShares S&P 500 Growth ETF Trading Down 1.8%

Shares of IVW stock opened at $133.59 on Friday. iShares S&P 500 Growth ETF has a 12 month low of $108.13 and a 12 month high of $141.98. The stock has a market cap of $72.85 billion, a PE ratio of 33.33 and a beta of 1.17. The company’s fifty day moving average price is $136.53 and its 200-day moving average price is $127.39.

iShares S&P 500 Growth ETF Profile

iShares S&P 500 Growth ETF, formerly iShares S&P 500 Growth Index Fund (the Growth Fund), is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield performance of the S&P 500/Citigroup Growth Index (the Growth Index). The Growth Index measures the performance of the large-capitalization growth sector of the United States equity market. The Growth Index is a subset of the S&P 500 and consists of those stocks in the S&P 500 exhibiting the strongest growth characteristics.