626 Financial Increases Stake in iShares Russell Top 200 Growth ETF

626 Financial LLC has increased its investment in the iShares Russell Top 200 Growth ETF (NYSEARCA:IWY) by 2.7% during the second quarter of 2023, as detailed in a recent filing with the Securities and Exchange Commission. The firm now holds 37,250 shares after acquiring an additional 971 shares during this period. This investment represents approximately 4.3% of 626 Financial LLC’s overall portfolio, making it the company’s seventh largest holding.

As of the latest filing, 626 Financial LLC’s stake in the iShares Russell Top 200 Growth ETF is valued at around $9.18 million, accounting for about 0.07% of the total shares outstanding. The continued investment underscores the firm’s commitment to growth-oriented assets amid a dynamic market.

Institutional Investors Show Interest

Several other institutional investors have also made moves regarding the iShares Russell Top 200 Growth ETF. For instance, Greykasell Wealth Strategies Inc. established a new position in the fund in the first quarter, valued at approximately $40,000. In a significant increase, Richards Merrill & Peterson Inc. raised its stake in the ETF by a staggering 11,500%, now owning 232 shares worth $49,000 after acquiring an additional 230 shares.

Additionally, New Republic Capital LLC joined the ranks of investors with a new position valued at about $65,000. Rosenberg Matthew Hamilton also expanded its holdings by 74%, now holding 468 shares valued at $99,000. Finally, Smithfield Trust Co. made a new investment in the ETF valued at approximately $113,000 in the same quarter.

Current Market Performance

The iShares Russell Top 200 Growth ETF saw its shares open at $286.47 on Wednesday, reflecting a 1.0% increase. The ETF has a 50-day moving average of $269.09 and a 200-day moving average of $247.77. Over the past year, the ETF has experienced a range, with a 52-week low of $180.65 and a 52-week high of $287.44. The fund boasts a market capitalization of $17.20 billion, a price-to-earnings ratio of 35.13, and a beta of 1.12.

The iShares Russell Top 200 Growth ETF, formerly known as the iShares Russell Top 200 Growth Index Fund, aims to deliver investment results that closely align with the price and yield performance of the Russell Top 200 Growth Index. This index is designed to measure the performance of the largest growth sector of the U.S. equity market, focusing on higher capitalisation companies that exhibit growth characteristics.

Investors continue to monitor movements in this popular ETF as it stands as a significant player in the current investment landscape.