Palumbo Wealth Management LLC Has $6.07 Million Stock Holdings in iShares TIPS Bond ETF (NYSEARCA:TIP)

Palumbo Wealth Management LLC cut its position in shares of iShares TIPS Bond ETF (NYSEARCA:TIP) by 3.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 54,976 shares of the exchange traded fund’s stock after selling 2,044 shares during the quarter. iShares TIPS Bond ETF accounts for about 2.4% of Palumbo Wealth Management LLC’s portfolio, making the stock its 9th biggest holding. Palumbo Wealth Management LLC’s holdings in iShares TIPS Bond ETF were worth $6,073,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TIP. Principal Financial Group Inc. grew its holdings in shares of iShares TIPS Bond ETF by 0.9% during the first quarter. Principal Financial Group Inc. now owns 13,577 shares of the exchange traded fund’s stock worth $1,458,000 after buying an additional 117 shares in the last quarter. Norden Group LLC bought a new position in shares of iShares TIPS Bond ETF during the first quarter worth about $258,000. Diversify Advisory Services LLC bought a new position in shares of iShares TIPS Bond ETF during the first quarter worth about $737,000. Sequoia Financial Advisors LLC boosted its position in iShares TIPS Bond ETF by 42.9% during the first quarter. Sequoia Financial Advisors LLC now owns 4,509 shares of the exchange traded fund’s stock valued at $484,000 after purchasing an additional 1,354 shares during the last quarter. Finally, Mission Wealth Management LP boosted its position in iShares TIPS Bond ETF by 68.4% during the first quarter. Mission Wealth Management LP now owns 4,314 shares of the exchange traded fund’s stock valued at $463,000 after purchasing an additional 1,752 shares during the last quarter.

iShares TIPS Bond ETF Stock Performance

NYSEARCA TIP traded down $0.15 during trading hours on Thursday, hitting $108.28. 313,798 shares of the company traded hands, compared to its average volume of 1,912,189. The business’s 50-day moving average is $109.58 and its 200-day moving average is $107.82. iShares TIPS Bond ETF has a twelve month low of $102.46 and a twelve month high of $111.06. The stock has a market capitalization of $18.79 billion, a price-to-earnings ratio of 11.86 and a beta of 0.09.

About iShares TIPS Bond ETF

iShares TIPS Bond ETF (the Fund), formerly iShares Barclays Treasury Inflation Protected Securities Bond Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Barclays U.S. Treasury Inflation Protected Securities (TIPS) Index (Series-L) (the Index).