iShares TIPS Bond ETF $TIP Stock: Garner Asset Management Corp Raises Stake

Garner Asset Management Corp boosted its stake in shares of iShares TIPS Bond ETF (NYSEARCA:TIP) by 56.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,887 shares of the exchange traded fund’s stock after purchasing an additional 26,778 shares during the period. iShares TIPS Bond ETF comprises 2.6% of Garner Asset Management Corp’s portfolio, making the stock its 9th largest holding. Garner Asset Management Corp’s holdings in iShares TIPS Bond ETF were worth $7,855,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TIP. Laurel Wealth Advisors LLC bought a new stake in iShares TIPS Bond ETF in the 3rd quarter worth approximately $27,000. CX Institutional purchased a new stake in iShares TIPS Bond ETF during the 3rd quarter valued at $29,000. Eastern Bank purchased a new stake in iShares TIPS Bond ETF during the 3rd quarter valued at $35,000. Bell Investment Advisors Inc purchased a new stake in iShares TIPS Bond ETF during the 3rd quarter valued at $39,000. Finally, Timbuktu Capital Management LLC bought a new position in shares of iShares TIPS Bond ETF during the 2nd quarter valued at $52,000. Hedge funds and other institutional investors own 63.62% of the company’s stock.

iShares TIPS Bond ETF Price Performance

NYSEARCA TIP opened at $106.10 on Wednesday. The stock has a market capitalization of $14.57 billion, a price-to-earnings ratio of 12.40 and a beta of 0.27. iShares TIPS Bond ETF has a 1-year low of $103.75 and a 1-year high of $111.98. The business’s fifty day moving average price is $105.66 and its 200-day moving average price is $108.81.

iShares TIPS Bond ETF 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). The Index measures the performance of the inflation-protected public obligations of the United States Treasury, commonly known as TIPS. The Underlying Index includes all publicly-issued the United States Treasury inflation-protected securities that have at least one year remaining to maturity, are rated investment-grade and have $250 million or more of face value.