Summit Asset Management LLC Trims Stake in iShares S&P 500 Value ETF (NYSEARCA:IVE)

Summit Asset Management LLC trimmed its position in iShares S&P 500 Value ETF (NYSEARCA:IVE) by 5.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,746 shares of the company’s stock after selling 296 shares during the quarter. Summit Asset Management LLC’s holdings in iShares S&P 500 Value ETF were worth $936,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Northwest Investment Counselors LLC bought a new position in iShares S&P 500 Value ETF in the third quarter worth about $31,000. Valued Wealth Advisors LLC acquired a new stake in shares of iShares S&P 500 Value ETF during the third quarter worth about $35,000. Addison Advisors LLC increased its holdings in iShares S&P 500 Value ETF by 50.0% in the 2nd quarter. Addison Advisors LLC now owns 279 shares of the company’s stock worth $51,000 after buying an additional 93 shares during the period. TruNorth Capital Management LLC purchased a new position in iShares S&P 500 Value ETF during the 2nd quarter worth approximately $65,000. Finally, Avondale Wealth Management lifted its stake in iShares S&P 500 Value ETF by 24.8% during the 2nd quarter. Avondale Wealth Management now owns 362 shares of the company’s stock valued at $66,000 after acquiring an additional 72 shares during the period.

iShares S&P 500 Value ETF Price Performance

IVE stock opened at $201.47 on Thursday. The firm’s fifty day simple moving average is $196.75 and its 200-day simple moving average is $189.38. The company has a market capitalization of $36.09 billion, a P/E ratio of 23.79 and a beta of 0.81. iShares S&P 500 Value ETF has a 12 month low of $160.00 and a 12 month high of $203.67.

iShares S&P 500 Value ETF Company Profile

iShares S&P 500 Value ETF (the Fund), formerly iShares S&P 500 Value Index Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance of the S&P 500 Value Index (the Index). The Index measures the performance of the large-capitalization value sector of the United States equity market and consists of those stocks in the S&P 500 exhibiting the strongest value characteristics.