Sandy Spring Bank Sells 1,467 Shares of iShares TIPS Bond ETF (NYSEARCA:TIP)

Sandy Spring Bank reduced its stake in shares of iShares TIPS Bond ETF (NYSEARCA:TIP) by 10.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 13,228 shares of the exchange traded fund’s stock after selling 1,467 shares during the quarter. Sandy Spring Bank’s holdings in iShares TIPS Bond ETF were worth $1,409,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of TIP. FMR LLC grew its stake in shares of iShares TIPS Bond ETF by 106.7% during the third quarter. FMR LLC now owns 6,990,445 shares of the exchange traded fund’s stock valued at $772,234,000 after buying an additional 3,608,542 shares during the last quarter. Assetmark Inc. grew its stake in shares of iShares TIPS Bond ETF by 1,852.1% during the fourth quarter. Assetmark Inc. now owns 1,452,502 shares of the exchange traded fund’s stock valued at $154,764,000 after buying an additional 1,378,094 shares during the last quarter. Wealthfront Advisers LLC bought a new stake in shares of iShares TIPS Bond ETF in the fourth quarter worth about $76,533,000. Sumitomo Life Insurance Co. grew its stake in shares of iShares TIPS Bond ETF by 58.0% in the fourth quarter. Sumitomo Life Insurance Co. now owns 1,461,746 shares of the exchange traded fund’s stock worth $155,749,000 after purchasing an additional 536,610 shares during the last quarter. Finally, Dynasty Wealth Management LLC bought a new stake in shares of iShares TIPS Bond ETF in the fourth quarter worth about $42,463,000.

iShares TIPS Bond ETF Price Performance

NYSEARCA TIP opened at $110.23 on Friday. The stock has a market capitalization of $14.35 billion, a PE ratio of 12.32 and a beta of 0.28. iShares TIPS Bond ETF has a 1 year low of $104.67 and a 1 year high of $111.06. The business’s 50-day moving average is $108.58 and its 200 day moving average is $108.55.

iShares TIPS Bond ETF Company Profile

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).