Phillips Financial Management LLC Sells 13,228 Shares of iShares TIPS Bond ETF (NYSEARCA:TIP)

Phillips Financial Management LLC reduced its stake in shares of iShares TIPS Bond ETF (NYSEARCA:TIP) by 16.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 65,926 shares of the exchange traded fund’s stock after selling 13,228 shares during the quarter. Phillips Financial Management LLC’s holdings in iShares TIPS Bond ETF were worth $7,283,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of TIP. Envestnet Asset Management Inc. boosted its position in iShares TIPS Bond ETF by 12.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 3,639,084 shares of the exchange traded fund’s stock valued at $388,581,000 after buying an additional 410,284 shares during the last quarter. Sumitomo Life Insurance Co. acquired a new stake in iShares TIPS Bond ETF in the third quarter worth about $102,200,000. Marshall Wace LLP raised its holdings in iShares TIPS Bond ETF by 3.1% during the 2nd quarter. Marshall Wace LLP now owns 561,570 shares of the exchange traded fund’s stock worth $59,964,000 after purchasing an additional 16,839 shares during the last quarter. Bank of New York Mellon Corp lifted its position in iShares TIPS Bond ETF by 30.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 464,032 shares of the exchange traded fund’s stock valued at $49,549,000 after purchasing an additional 107,653 shares during the period. Finally, Cetera Investment Advisers boosted its stake in shares of iShares TIPS Bond ETF by 5.0% in the 2nd quarter. Cetera Investment Advisers now owns 443,962 shares of the exchange traded fund’s stock valued at $47,406,000 after purchasing an additional 21,268 shares during the last quarter.

iShares TIPS Bond ETF Price Performance

Shares of NYSEARCA:TIP opened at $107.45 on Monday. The stock has a market cap of $18.64 billion, a price-to-earnings ratio of 11.86 and a beta of 0.09. The company has a 50 day moving average of $109.27 and a 200-day moving average of $108.03. iShares TIPS Bond ETF has a one year low of $104.18 and a one year high of $111.06.

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).