TFC Financial Management Inc. has increased its stake in the iShares 1-3 Year Treasury Bond ETF (NASDAQ: SHY) by 1.7% during the third quarter of 2023. According to data from HoldingsChannel, the institutional investor now owns 897,682 shares after acquiring an additional 15,072 shares in this period. This investment represents approximately 9.5% of TFC Financial Management’s portfolio, making it the firm’s third-largest holding.
The total value of TFC Financial Management’s investment in the iShares ETF reached approximately $74.47 million at the close of the most recent reporting period. The iShares 1-3 Year Treasury Bond ETF is designed to track the performance of U.S. Treasury securities with maturities ranging from one to three years, providing investors with exposure to short-term government bonds.
Several other institutional investors have also adjusted their holdings in the iShares 1-3 Year Treasury Bond ETF recently, reflecting growing interest in this financial vehicle. Notably, Invst LLC increased its position by a remarkable 182.5% in the first quarter, acquiring an additional 6,233 shares to total 9,648 shares valued at approximately $798,000.
Additionally, Private Client Services LLC entered a new position in the ETF during the second quarter, investing around $536,000. City Center Advisors LLC also acquired a new stake valued at roughly $1.42 million, while TrueWealth Advisors LLC invested close to $388,000 in the same quarter. Whitcomb & Hess Inc. boosted its stake by 1.7%, bringing its total to 22,775 shares worth approximately $1.89 million.
As of the latest reports, institutional investors hold about 23.15% of the iShares 1-3 Year Treasury Bond ETF stock. This trend highlights the ongoing confidence in U.S. Treasury securities as a relatively stable investment option in a fluctuating market.
The iShares 1-3 Year Treasury Bond ETF opened at $82.83 on Friday. The fund has a market capitalization of $23.59 billion, with a price-to-earnings (PE) ratio of 3,747.73 and a beta of 0.05. Over the past year, the ETF has traded within a range of $81.81 to $83.14, reflecting its stability amid broader market volatility.
Launched on July 22, 2002, the iShares 1-3 Year Treasury Bond ETF is managed by BlackRock and aims to provide investors with income and stability through its focus on short-term government debt. As such, it remains a popular choice for those seeking to minimize risk while maintaining some exposure to U.S. Treasury securities.
For more insights into the latest hedge fund activities regarding the iShares 1-3 Year Treasury Bond ETF, investors can visit HoldingsChannel.com to access the latest 13F filings and insider trades.
