Cornerstone Advisors Asset Management LLC Raises Stake in Vanguard Information Technology ETF $VGT

Cornerstone Advisors Asset Management LLC lifted its position in shares of Vanguard Information Technology ETF (NYSEARCA:VGT) by 700.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 106,471 shares of the exchange traded fund’s stock after buying an additional 93,165 shares during the quarter. Vanguard Information Technology ETF comprises 1.7% of Cornerstone Advisors Asset Management LLC’s holdings, making the stock its 16th biggest position. Cornerstone Advisors Asset Management LLC’s holdings in Vanguard Information Technology ETF were worth $12,725,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Vanguard Information Technology ETF by 657.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,731,562 shares of the exchange traded fund’s stock worth $565,516,000 after purchasing an additional 4,107,038 shares during the period. Harel Insurance Investments & Financial Services Ltd. grew its holdings in Vanguard Information Technology ETF by 693.4% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,421,267 shares of the exchange traded fund’s stock valued at $289,390,000 after buying an additional 2,116,095 shares during the period. Nissay Asset Management Corp Japan grew its holdings in Vanguard Information Technology ETF by 700.0% in the 2nd quarter. Nissay Asset Management Corp Japan now owns 1,637,816 shares of the exchange traded fund’s stock valued at $195,752,000 after buying an additional 1,433,089 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc. increased its stake in shares of Vanguard Information Technology ETF by 690.1% during the 2nd quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 1,378,210 shares of the exchange traded fund’s stock valued at $164,724,000 after acquiring an additional 1,203,781 shares during the last quarter. Finally, Taiyo Life Insurance Co. increased its stake in shares of Vanguard Information Technology ETF by 700.0% during the 2nd quarter. Taiyo Life Insurance Co. now owns 1,352,000 shares of the exchange traded fund’s stock valued at $161,591,000 after acquiring an additional 1,183,000 shares during the last quarter.

Vanguard Information Technology ETF Price Performance

Shares of VGT stock opened at $121.27 on Friday. The firm’s 50-day simple moving average is $117.35 and its 200-day simple moving average is $107.87. Vanguard Information Technology ETF has a 1-year low of $83.09 and a 1-year high of $126.00. The firm has a market cap of $148.67 billion, a P/E ratio of 34.55 and a beta of 1.35.

Vanguard Information Technology ETF Company Profile

Vanguard Information Technology ETF seeks to track the investment performance of the MSCI US Investable Market Information Technology 25/50 Index, a benchmark of large-, mid-, and small-cap United States stocks in the information technology sector, as classified under the Global Industry Classification Standard (GICS). This GICS sector is made up of companies in three areas: technology software and services, including companies that develop software in various fields (such as the Internet, applications, systems, databases, and/or home entertainment), and companies that provide information technology consulting and services, data processing, and outsourced services; technology hardware and equipment, including manufacturers and distributors of communications equipment, computers and peripherals and electronic equipment, and semiconductors and semiconductor equipment manufacturers.