Magnolia Wealth Management LLC Invests $13.67 Million in Vanguard Information Technology ETF $VGT

Magnolia Wealth Management LLC purchased a new stake in shares of Vanguard Information Technology ETF (NYSEARCA:VGT) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 18,307 shares of the exchange traded fund’s stock, valued at approximately $13,669,000. Vanguard Information Technology ETF accounts for about 8.5% of Magnolia Wealth Management LLC’s portfolio, making the stock its 4th biggest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. China Universal Asset Management Co. Ltd. lifted its holdings in Vanguard Information Technology ETF by 110.5% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 40 shares of the exchange traded fund’s stock worth $27,000 after buying an additional 21 shares in the last quarter. First Command Advisory Services Inc. bought a new position in Vanguard Information Technology ETF in the 3rd quarter valued at $31,000. Semmax Financial Advisors Inc. acquired a new stake in shares of Vanguard Information Technology ETF in the 2nd quarter valued at $31,000. Palisade Asset Management LLC bought a new stake in shares of Vanguard Information Technology ETF during the third quarter worth $34,000. Finally, Kilter Group LLC bought a new stake in shares of Vanguard Information Technology ETF during the second quarter worth $37,000.

Vanguard Information Technology ETF Stock Up 0.3%

Shares of VGT opened at $727.40 on Wednesday. The stock’s fifty day simple moving average is $742.16 and its 200-day simple moving average is $747.84. The firm has a market capitalization of $108.85 billion, a PE ratio of 34.55 and a beta of 1.25. Vanguard Information Technology ETF has a 12-month low of $451.00 and a 12-month high of $806.99.

Vanguard Information Technology ETF Company Profile

Vanguard Information Technology ETF seeks to track the investment performance of the MSCI US Investable Market Information Technology 25/50 Index, a benchmark of large-, mid-, and small-cap United States stocks in the information technology sector, as classified under the Global Industry Classification Standard (GICS). This GICS sector is made up of companies in three areas: technology software and services, including companies that develop software in various fields (such as the Internet, applications, systems, databases, and/or home entertainment), and companies that provide information technology consulting and services, data processing, and outsourced services; technology hardware and equipment, including manufacturers and distributors of communications equipment, computers and peripherals and electronic equipment, and semiconductors and semiconductor equipment manufacturers.