LPL Financial LLC has decreased its position in the Invesco S&P MidCap 400 GARP ETF (NYSEARCA: GRPM) by 11.5% during the first quarter of 2023. According to the company’s latest filing with the U.S. Securities and Exchange Commission (SEC), LPL Financial now holds 175,930 shares of the ETF, down from 198,873 shares after selling 22,943 shares in the quarter. This reduction accounts for 3.94% of the fund, valued at approximately $18.42 million.
Several other institutional investors have also recently adjusted their holdings in the Invesco S&P MidCap 400 GARP ETF. AE Wealth Management LLC increased its stake by 65.9% in the first quarter, now owning 536 shares valued at $56,000 after acquiring an additional 213 shares. Similarly, Glass Jacobson Investment Advisors LLC boosted its investment by 18.2% in the fourth quarter, raising its ownership to 670 shares, worth $76,000.
Creative Financial Designs Inc. ADV expanded its holdings by 16.5% during the first quarter, now possessing 2,638 shares valued at $276,000 after an addition of 374 shares. Notably, Bank of Montreal Can increased its stake by an impressive 984.5% in the fourth quarter, bringing its total to 3,362 shares worth $379,000, following the purchase of 3,052 shares.
Mariner LLC also made significant gains, boosting its stake in the Invesco S&P MidCap 400 GARP ETF by 83.4% during the fourth quarter. The firm now holds 3,692 shares valued at $416,000 after acquiring an additional 1,679 shares.
Market Performance of Invesco S&P MidCap 400 GARP ETF
As of the latest trading session, the Invesco S&P MidCap 400 GARP ETF opened at $114.10. Over the past year, the stock has experienced fluctuations, with a one-year low of $89.15 and a high of $127.48. The fund has a market capitalization of $465.53 million and a price-to-earnings ratio of 13.88, indicating a relatively stable valuation in the mid-cap segment. The ETF’s 50-day moving average stands at $110.35, while the 200-day moving average is at $107.44.
The Invesco S&P MidCap 400 GARP ETF, launched on December 8, 2010, tracks an index of U.S. mid-cap growth stocks characterized by both quality and value traits. It serves as a strategic investment vehicle for those looking to gain exposure to this specific market segment.
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