Sovereign Financial Group Inc. Sells 1,455 Shares of iShares TIPS Bond ETF (NYSEARCA:TIP)

Sovereign Financial Group Inc. trimmed its position in iShares TIPS Bond ETF (NYSEARCA:TIP) by 10.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 12,971 shares of the exchange traded fund’s stock after selling 1,455 shares during the quarter. Sovereign Financial Group Inc.’s holdings in iShares TIPS Bond ETF were worth $1,394,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Fortis Group Advisors LLC acquired a new position in iShares TIPS Bond ETF during the third quarter worth $27,000. Trifecta Capital Advisors LLC purchased a new stake in shares of iShares TIPS Bond ETF in the fourth quarter worth about $27,000. Life Planning Partners Inc purchased a new position in iShares TIPS Bond ETF during the fourth quarter worth about $30,000. Covestor Ltd bought a new stake in iShares TIPS Bond ETF during the third quarter valued at approximately $33,000. Finally, Sound Income Strategies LLC increased its stake in iShares TIPS Bond ETF by 108.7% in the fourth quarter. Sound Income Strategies LLC now owns 361 shares of the exchange traded fund’s stock valued at $39,000 after acquiring an additional 188 shares during the last quarter.

iShares TIPS Bond ETF Stock Performance

TIP traded down $0.12 on Wednesday, hitting $105.84. 1,508,062 shares of the company were exchanged, compared to its average volume of 2,177,887. The stock has a market capitalization of $18.36 billion, a PE ratio of 11.86 and a beta of 0.09. iShares TIPS Bond ETF has a 12 month low of $101.74 and a 12 month high of $109.99. The firm has a fifty day simple moving average of $106.47 and a two-hundred day simple moving average of $106.09.

iShares TIPS Bond ETF Company Profile

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).