Summit Financial LLC Has $1.56 Million Position in iShares TIPS Bond ETF (NYSEARCA:TIP)

Summit Financial LLC reduced its position in shares of iShares TIPS Bond ETF (NYSEARCA:TIP) by 7.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 14,542 shares of the exchange traded fund’s stock after selling 1,228 shares during the quarter. Summit Financial LLC’s holdings in iShares TIPS Bond ETF were worth $1,562,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in TIP. Trifecta Capital Advisors LLC acquired a new position in iShares TIPS Bond ETF in the 4th quarter valued at $27,000. Fortis Group Advisors LLC acquired a new position in iShares TIPS Bond ETF in the 3rd quarter valued at $27,000. Life Planning Partners Inc acquired a new position in iShares TIPS Bond ETF in the 4th quarter valued at $30,000. First Pacific Financial raised its holdings in iShares TIPS Bond ETF by 197.0% in the 1st quarter. First Pacific Financial now owns 294 shares of the exchange traded fund’s stock valued at $32,000 after acquiring an additional 195 shares in the last quarter. Finally, Pacific Capital Wealth Advisors Inc. acquired a new position in iShares TIPS Bond ETF in the 4th quarter valued at $33,000.

iShares TIPS Bond ETF Trading Down 0.4 %

NYSEARCA TIP traded down $0.41 during midday trading on Thursday, hitting $106.31. The company had a trading volume of 1,413,629 shares, compared to its average volume of 2,154,774. iShares TIPS Bond ETF has a twelve month low of $101.74 and a twelve month high of $108.64. The company has a market capitalization of $18.44 billion, a PE ratio of 11.86 and a beta of 0.09. The firm has a 50-day moving average price of $106.30 and a 200-day moving average price of $106.32.

About iShares TIPS Bond ETF

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).