WNY Asset Management Reduces Stake in iShares Russell 1000 ETF

WNY Asset Management LLC has decreased its investment in the iShares Russell 1000 ETF (NYSEARCA:IWB) by 1.8% during the second quarter of 2023. According to the latest 13F filing with the Securities and Exchange Commission (SEC), the firm sold 33 shares, leaving it with a total of 1,759 shares valued at approximately $597,000.

This adjustment marks a notable shift in WNY Asset Management’s strategy, yet it is not an isolated incident. Other institutional investors have been active in the iShares Russell 1000 ETF as well. For instance, Kingstone Capital Partners Texas LLC acquired a new position in the ETF worth nearly $412 million during the same quarter.

In the first quarter, Jones Financial Companies Lllp increased its holdings by 5.1%, bringing its total to 10,240,732 shares valued at around $3.12 billion after purchasing an additional 499,981 shares. Similarly, Halbert Hargrove Global Advisors LLC dramatically raised its position by an astonishing 2,783.3% in the second quarter, acquiring 466,465 shares worth $158.4 million after adding 450,287 shares to its portfolio.

Allstate Corp also entered the fray, investing approximately $105.1 million in the first quarter, while Ieq Capital LLC boosted its stake by 176.0%, now holding 381,635 shares valued at $117.1 million after acquiring an additional 243,360 shares.

Stock Performance and Market Position

As of Wednesday, the iShares Russell 1000 ETF stock opened at $376.54. The ETF has experienced significant fluctuations, with a 50-day moving average of $362.25 and a 200-day moving average of $340.29. Over the past year, the stock reached a low of $264.17 and a high of $377.53. With a market capitalization of $44.92 billion and a price-to-earnings (PE) ratio of 24.71, the ETF demonstrates stability in a varying market.

The iShares Russell 1000 ETF serves as an exchange-traded fund designed to mirror the price and yield performance of the Russell 1000 Index. This index is a float-adjusted capitalization-weighted benchmark that reflects the performance of the largest companies in the United States equity market, comprising approximately 1,000 of the largest issuers from the Russell 3000 Index.

Investors looking for updates on institutional holdings or insider trades in the iShares Russell 1000 ETF can visit HoldingsChannel.com for the latest information. For daily updates on news and analysts’ ratings related to the ETF, individuals can subscribe to MarketBeat.com’s free newsletter.