Kennicott Capital Management LLC Increases iShares Core S&P 500 ETF Stake

On October 22, 2024, it was reported that Kennicott Capital Management LLC has raised its investment in the iShares Core S&P 500 ETF (NYSEARCA:IVV) by 2.8% during the third quarter of the year. According to their latest filing with the Securities and Exchange Commission (SEC), the firm now holds 16,594 shares of IVV, having acquired an additional 449 shares in the most recent quarter. This ETF represents approximately 3.7% of Kennicott’s overall investment portfolio, making it their sixth-largest position. As of the end of the last quarter, the value of their holdings in IVV stood at around $9,572,000.

In addition to Kennicott Capital Management LLC, several other institutional investors have also adjusted their stakes in the iShares Core S&P 500 ETF. For instance, BNP Paribas initiated a new stake during the first quarter, valued at $1,077,000. Meanwhile, True Link Financial Advisors LLC increased its ownership of IVV shares by 9.0% in the same quarter, bringing its total number of shares to 266,102, valued at approximately $139,898,000 after buying an additional 21,997 shares. Another firm, Compass Ion Advisors LLC, raised its position in IVV by 27.5% in the third quarter, now owning 10,567 shares with a total value of $6,096,000 after adding 2,278 shares. Financial Management Professionals Inc. significantly boosted its stake by 267.1% in the first quarter, now owning 257 shares valued at $135,000 after purchasing 187 additional shares. Last but not least, Pinnacle Bancorp Inc. increased its holdings in the ETF by 3.7% during the first quarter, now holding 8,052 shares worth around $4,233,000 after adding 284 shares.

Performance of iShares Core S&P 500 ETF

The iShares Core S&P 500 ETF was trading at $586.59 on Tuesday. Over the past year, the ETF has seen a low of $411.02 and a high of $588.93. With a market capitalization of $506.17 billion, it has a price-to-earnings ratio of 25.23 and a beta of 0.99. The stock's 50-day simple moving average is noted at $567.53, while the two-hundred day simple moving average stands at $545.90.

About iShares Core S&P 500 ETF

The iShares Core S&P 500 ETF is an exchange-traded fund designed to track the performance of the Standard & Poor’s 500 Index. This index reflects the performance of large-cap companies in the U.S. equity market.

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