Envestnet Asset Management Inc. Sells 4,380,128 Shares of iShares S&P 500 Value ETF $IVE

Envestnet Asset Management Inc. lessened its stake in iShares S&P 500 Value ETF (NYSEARCA:IVE) by 15.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 23,349,327 shares of the company’s stock after selling 4,380,128 shares during the period. iShares S&P 500 Value ETF comprises about 0.8% of Envestnet Asset Management Inc.’s investment portfolio, making the stock its 16th largest position. Envestnet Asset Management Inc. owned 0.11% of iShares S&P 500 Value ETF worth $5,301,695,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. M Holdings Securities Inc. bought a new stake in iShares S&P 500 Value ETF in the fourth quarter valued at approximately $2,929,000. PAX Financial Group LLC lifted its position in shares of iShares S&P 500 Value ETF by 3.3% in the 1st quarter. PAX Financial Group LLC now owns 144,883 shares of the company’s stock worth $30,592,000 after purchasing an additional 4,640 shares during the period. Tradition Wealth Management LLC boosted its stake in shares of iShares S&P 500 Value ETF by 48.0% in the 4th quarter. Tradition Wealth Management LLC now owns 37,344 shares of the company’s stock valued at $7,919,000 after purchasing an additional 12,114 shares during the last quarter. SB Capital Management Inc bought a new stake in shares of iShares S&P 500 Value ETF in the 4th quarter valued at $953,000. Finally, Matrix Private Capital Group LLC bought a new stake in shares of iShares S&P 500 Value ETF in the 1st quarter valued at $958,000.

iShares S&P 500 Value ETF Price Performance

Shares of IVE traded down $1.19 during trading hours on Wednesday, hitting $231.92. 790,511 shares of the stock were exchanged, compared to its average volume of 964,225. iShares S&P 500 Value ETF has a fifty-two week low of $202.45 and a fifty-two week high of $239.93. The business has a 50-day moving average of $234.61 and a 200-day moving average of $226.24. The firm has a market capitalization of $49.25 billion, a P/E ratio of 20.70 and a beta of 0.82.

About iShares S&P 500 Value ETF

iShares S&P 500 Value ETF (the Fund), formerly iShares S&P 500 Value Index Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance of the S&P 500 Value Index (the Index). The Index measures the performance of the large-capitalization value sector of the United States equity market and consists of those stocks in the S&P 500 exhibiting the strongest value characteristics. The Fund generally invests at least 90% of its assets in securities of the Index and in depositary receipts representing securities of the Underlying Index.