46 Peaks LLC Takes Position in Avantis Emerging Markets Equity ETF $AVEM

46 Peaks LLC acquired a new stake in Avantis Emerging Markets Equity ETF (NYSEARCA:AVEM) in the fourth quarter, Holdings Channel.com reports. The fund acquired 61,894 shares of the company’s stock, valued at approximately $4,767,000. Avantis Emerging Markets Equity ETF accounts for 3.5% of 46 Peaks LLC’s holdings, making the stock its 9th largest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of America Corp DE raised its holdings in Avantis Emerging Markets Equity ETF by 4.9% in the 3rd quarter. Bank of America Corp DE now owns 18,412,368 shares of the company’s stock valued at $1,382,953,000 after buying an additional 867,710 shares during the period. Mercer Global Advisors Inc. ADV boosted its stake in Avantis Emerging Markets Equity ETF by 4.5% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 9,627,411 shares of the company’s stock worth $741,503,000 after buying an additional 418,018 shares during the period. Align Financial LLC acquired a new stake in shares of Avantis Emerging Markets Equity ETF during the fourth quarter valued at about $528,227,000. Wells Fargo & Company MN raised its stake in shares of Avantis Emerging Markets Equity ETF by 17.3% in the 4th quarter. Wells Fargo & Company MN now owns 5,675,729 shares of the company’s stock valued at $437,145,000 after acquiring an additional 837,069 shares during the period. Finally, Morgan Stanley raised its stake in shares of Avantis Emerging Markets Equity ETF by 12.6% in the 4th quarter. Morgan Stanley now owns 5,659,671 shares of the company’s stock valued at $435,908,000 after acquiring an additional 631,367 shares during the period.

Avantis Emerging Markets Equity ETF Stock Performance

Shares of AVEM stock opened at $99.71 on Friday. The firm has a market cap of $26.00 billion, a P/E ratio of 12.66 and a beta of 0.73. The firm’s 50 day moving average price is $92.67 and its 200-day moving average price is $85.29. Avantis Emerging Markets Equity ETF has a one year low of $66.19 and a one year high of $100.00.

About Avantis Emerging Markets Equity ETF

The Avantis Emerging Markets Equity ETF (AVEM) is an exchange-traded fund that mostly invests in total market equity. The fund is an actively managed fund that holds emerging-market stocks of all market capitalizations considered favorable on multiple factors. The fund seeks to provide capital appreciation. AVEM was launched on Sep 17, 2019 and is managed by American Century Investments.