Summit Financial LLC Purchases 4,447 Shares of iShares TIPS Bond ETF (NYSEARCA:TIP)

Summit Financial LLC raised its position in shares of iShares TIPS Bond ETF (NYSEARCA:TIP) by 15.5% in the fourth quarter, HoldingsChannel reports. The firm owned 33,050 shares of the exchange traded fund’s stock after buying an additional 4,447 shares during the quarter. Summit Financial LLC’s holdings in iShares TIPS Bond ETF were worth $3,522,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TIP. JPMorgan Chase & Co. grew its position in iShares TIPS Bond ETF by 1.8% during the third quarter. JPMorgan Chase & Co. now owns 2,880,936 shares of the exchange traded fund’s stock valued at $318,257,000 after buying an additional 51,713 shares during the period. Rock Creek Group LP grew its position in shares of iShares TIPS Bond ETF by 0.7% during the 4th quarter. Rock Creek Group LP now owns 2,764,310 shares of the exchange traded fund’s stock valued at $294,537,000 after acquiring an additional 18,908 shares during the period. Sumitomo Life Insurance Co. increased its stake in shares of iShares TIPS Bond ETF by 58.0% in the 4th quarter. Sumitomo Life Insurance Co. now owns 1,461,746 shares of the exchange traded fund’s stock worth $155,749,000 after purchasing an additional 536,610 shares in the last quarter. Assetmark Inc. raised its holdings in iShares TIPS Bond ETF by 1,852.1% in the 4th quarter. Assetmark Inc. now owns 1,452,502 shares of the exchange traded fund’s stock worth $154,764,000 after purchasing an additional 1,378,094 shares during the period. Finally, LPL Financial LLC lifted its position in iShares TIPS Bond ETF by 5.0% during the fourth quarter. LPL Financial LLC now owns 1,103,898 shares of the exchange traded fund’s stock valued at $117,620,000 after purchasing an additional 52,479 shares in the last quarter.

iShares TIPS Bond ETF Stock Performance

NYSEARCA:TIP opened at $111.09 on Tuesday. The stock has a 50-day simple moving average of $109.07 and a two-hundred day simple moving average of $108.57. iShares TIPS Bond ETF has a 52-week low of $104.67 and a 52-week high of $111.23. The firm has a market capitalization of $14.56 billion, a PE ratio of 12.43 and a beta of 0.29.

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).