Mader & Shannon Wealth Management Inc. Purchases New Position in iShares TIPS Bond ETF $TIP

Mader & Shannon Wealth Management Inc. acquired a new position in shares of iShares TIPS Bond ETF (NYSEARCA:TIP) during the third quarter, HoldingsChannel reports. The institutional investor acquired 262,859 shares of the exchange traded fund’s stock, valued at approximately $27,348,000. iShares TIPS Bond ETF accounts for approximately 11.4% of Mader & Shannon Wealth Management Inc.’s investment portfolio, making the stock its largest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TIP. Bank of America Corp DE boosted its holdings in shares of iShares TIPS Bond ETF by 18.1% in the 1st quarter. Bank of America Corp DE now owns 24,329,782 shares of the exchange traded fund’s stock valued at $2,685,035,000 after buying an additional 3,729,751 shares in the last quarter. Mather Group LLC. purchased a new position in shares of iShares TIPS Bond ETF in the 3rd quarter valued at $240,163,000. Envestnet Asset Management Inc. grew its position in shares of iShares TIPS Bond ETF by 3.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,029,684 shares of the exchange traded fund’s stock valued at $222,108,000 after buying an additional 68,483 shares during the last quarter. CI Investments Inc. grew its position in shares of iShares TIPS Bond ETF by 28.7% in the 1st quarter. CI Investments Inc. now owns 1,166,832 shares of the exchange traded fund’s stock valued at $128,772,000 after buying an additional 260,055 shares during the last quarter. Finally, Viewpoint Investment Partners Corp raised its stake in iShares TIPS Bond ETF by 26.7% during the 3rd quarter. Viewpoint Investment Partners Corp now owns 597,700 shares of the exchange traded fund’s stock worth $56,551,000 after acquiring an additional 126,040 shares in the last quarter. Institutional investors and hedge funds own 63.62% of the company’s stock.

iShares TIPS Bond ETF Trading Up 0.0%

NYSEARCA:TIP traded up $0.01 during midday trading on Friday, hitting $106.27. 3,195,944 shares of the company were exchanged, compared to its average volume of 2,202,347. The company has a fifty day simple moving average of $105.58 and a 200 day simple moving average of $108.75. iShares TIPS Bond ETF has a fifty-two week low of $103.75 and a fifty-two week high of $111.98. The company has a market capitalization of $14.59 billion, a PE ratio of 12.40 and a beta of 0.27.

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.