Sovereign Financial Group Inc. Grows Position in iShares S&P 500 Value ETF (NYSEARCA:IVE)

Sovereign Financial Group Inc. lifted its holdings in shares of iShares S&P 500 Value ETF (NYSEARCA:IVE) by 32.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,099 shares of the company’s stock after acquiring an additional 1,999 shares during the quarter. Sovereign Financial Group Inc.’s holdings in iShares S&P 500 Value ETF were worth $1,544,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new position in iShares S&P 500 Value ETF in the fourth quarter worth $311,273,000. Envestnet Asset Management Inc. raised its holdings in iShares S&P 500 Value ETF by 3.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 13,435,769 shares of the company’s stock worth $2,564,620,000 after purchasing an additional 493,784 shares in the last quarter. GAMMA Investing LLC raised its holdings in iShares S&P 500 Value ETF by 18,958.0% in the first quarter. GAMMA Investing LLC now owns 477,975 shares of the company’s stock worth $91,092,000 after purchasing an additional 475,467 shares in the last quarter. Lido Advisors LLC raised its holdings in iShares S&P 500 Value ETF by 46.5% in the fourth quarter. Lido Advisors LLC now owns 1,414,358 shares of the company’s stock worth $269,973,000 after purchasing an additional 448,773 shares in the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in iShares S&P 500 Value ETF in the fourth quarter worth $41,692,000.

iShares S&P 500 Value ETF Trading Up 0.8%

IVE opened at $191.34 on Friday. The stock has a fifty day simple moving average of $183.77 and a two-hundred day simple moving average of $191.16. The company has a market cap of $38.17 billion, a price-to-earnings ratio of 20.88 and a beta of 0.89. iShares S&P 500 Value ETF has a 12-month low of $165.45 and a 12-month high of $206.63.

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.