In a recent filing with the Securities and Exchange Commission, JPMorgan Chase & Co. disclosed a 3.3% increase in its holdings of the iShares Broad USD Investment Grade Corporate Bond ETF (NASDAQ:USIG) during the third quarter. The financial giant now owns 1,422,206 shares of the ETF, after acquiring an additional 45,662 shares in the quarter.
As of its latest report, JPMorgan”s stake represents approximately 0.49% of the total fund, valued at $74,268,000. Other institutional investors have also made significant adjustments to their positions in the ETF. Notably, TIAA Trust National Association expanded its holdings by a staggering 317.1% in the previous quarter, bringing its total to 23,177,950 shares worth $1,189,420,000 following a purchase of 17,621,424 shares.
Ameriprise Financial Inc. raised its position by 21.0%, now holding 9,978,176 shares valued at $509,873,000 after acquiring an additional 1,735,043 shares. Captrust Financial Advisors and Crestwood Advisors Group LLC also increased their stakes modestly by 2.6% and 4.3%, respectively.
On Wednesday, the iShares Broad USD Investment Grade Corporate Bond ETF opened at $52.34, reflecting a slight decline of 0.1%. The fund has a 50-day simple moving average of $51.96 and a 200-day simple moving average of $52.01. Over the past year, the ETF has fluctuated between a low of $49.10 and a high of $52.72.
Launched on January 5, 2007, the iShares Broad USD Investment Grade Corporate Bond ETF tracks the ICE BofA US Corporate index, which consists of USD-denominated, investment-grade corporate debt. The fund is managed by BlackRock, a key player in the asset management industry.
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