Evernest Financial Advisors LLC Acquires New Shares in iShares Russell 1000 Growth ETF (NYSEARCA:IWF)

On October 23, 2024, it was reported that Evernest Financial Advisors LLC has made its mark in the market by acquiring a new position in the iShares Russell 1000 Growth ETF (NYSEARCA:IWF). This acquisition took place during the third quarter of the year, as indicated in their most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 545 shares of this popular exchange-traded fund, which is valued at approximately $205,000.

This acquisition by Evernest Financial Advisors LLC is part of a larger trend, as several other hedge funds have recently adjusted their holdings in the iShares Russell 1000 Growth ETF as well. For instance, JPMorgan Chase & Co. increased its stake in the ETF by 0.9% during the first quarter, now holding 7,847,670 shares worth around $2.645 billion after acquiring an additional 66,923 shares in the last quarter. Similarly, LPL Financial LLC raised its position by 2.1% in the second quarter, owning 2,924,993 shares valued at about $1.066 billion after purchasing an additional 60,668 shares.

Raymond James & Associates also increased their stake in iShares Russell 1000 Growth ETF by 0.5% during the third quarter, bringing their total to 2,625,912 shares worth approximately $985.7 million after acquiring an additional 12,388 shares. Commonwealth Equity Services LLC and Truist Financial Corp also raised their holdings in the ETF by 4.0% and 0.5% in the second quarter, respectively.

Market Performance

The iShares Russell 1000 Growth ETF saw its shares open at $384.52 on a recent Wednesday, featuring a market capitalization of approximately $101.72 billion. The fund has a price-to-earnings (P/E) ratio of 35.64 and presents a beta of 1.20, indicating its volatility in comparison to the broader market. The ETF has experienced a 12-month low of $256.01 and a high of $385.67, presenting a substantial range for investments. Additionally, the fund's fifty-day simple moving average stands at $369.06, while the 200-day moving average is at $356.04, giving investors key indicators of its performance.

About iShares Russell 1000 Growth ETF

The iShares Russell 1000 Growth ETF, formerly known as the iShares Russell 1000 Growth Index Fund, is an exchange-traded fund designed to track the investment returns associated with the Russell 1000 Growth Index. This index measures the performance of equity securities from Russell 1000 index issuers that exhibit relatively higher price-to-book ratios and expected growth.

Evernest, ETF, Investment