iShares S&P 500 Value ETF (NYSEARCA:IVE) Reaches Record 12-Month High

The iShares S&P 500 Value ETF (NYSEARCA:IVE) achieved a new 52-week high during trading on Friday, October 13, 2024. The fund reached an impressive high of $197.83 before settling at $197.80 with a trading volume of 17,276 shares. This marked a notable increase from its previous closing price of $196.29.

Performance Overview of iShares S&P 500 Value ETF

In the latest trading session, the iShares S&P 500 Value ETF saw a rise of 1.1%. The company boasts a market capitalization of $35.55 billion and maintains a price-to-earnings (PE) ratio of 23.79. With a beta of 0.81, the ETF shows less volatility compared to the broader market. Its fifty-day moving average stands at $193.02, while the 200-day moving average is significantly lower at $186.73.

Institutional Investment Trends in iShares S&P 500 Value ETF

Recently, there has been a surge of activity from institutional investors concerning the iShares S&P 500 Value ETF. Cetera Investment Advisers increased its stake by a staggering 905.6% during the first quarter, now holding 1,410,516 shares valued at approximately $263.5 million after purchasing an additional 1,270,256 shares. Similarly, Envestnet Portfolio Solutions Inc. raised its holdings by 503.8% in the same period, resulting in ownership of 1,377,642 shares worth about $257.4 million following the acquisition of 1,149,497 shares.

Moreover, CWM LLC expanded its position by 228.4%, accumulating 1,496,348 shares valued at $279.5 million after an addition of 1,040,767 shares. JPMorgan Chase & Co. also increased its ownership by 5.1%, now controlling 17,776,089 shares, which are valued at approximately $3.32 billion after purchasing 861,704 shares. Park Avenue Securities LLC displayed the most substantial growth, with a remarkable 1,337.4% increase in holdings during the first quarter, currently owning 902,534 shares valued at $168.6 million after securing an additional 839,744 shares.

Understanding the iShares S&P 500 Value ETF

The iShares S&P 500 Value ETF, previously known as the iShares S&P 500 Value Index Fund, is an exchange-traded fund (ETF) designed to track the price and yield performance of the S&P 500 Value Index. This index evaluates the performance of large-cap value stocks within the U.S. equity market, focusing on those companies demonstrating the strongest value characteristics in the S&P 500.

ETF, Stocks, Investment