Financial Management Network Inc. Lowers Position in iShares S&P 500 Growth ETF $IVW

Financial Management Network Inc. reduced its position in shares of iShares S&P 500 Growth ETF (NYSEARCA:IVW) by 5.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,836 shares of the company’s stock after selling 3,764 shares during the period. iShares S&P 500 Growth ETF makes up approximately 1.2% of Financial Management Network Inc.’s portfolio, making the stock its 20th largest position. Financial Management Network Inc.’s holdings in iShares S&P 500 Growth ETF were worth $7,787,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in IVW. Morgan Stanley boosted its position in iShares S&P 500 Growth ETF by 0.6% during the fourth quarter. Morgan Stanley now owns 33,646,152 shares of the company’s stock worth $4,147,225,000 after purchasing an additional 186,391 shares in the last quarter. LPL Financial LLC increased its position in shares of iShares S&P 500 Growth ETF by 1.8% in the fourth quarter. LPL Financial LLC now owns 19,816,481 shares of the company’s stock valued at $2,442,579,000 after buying an additional 357,495 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of iShares S&P 500 Growth ETF by 0.5% in the fourth quarter. Wells Fargo & Company MN now owns 15,021,156 shares of the company’s stock valued at $1,851,508,000 after buying an additional 80,216 shares in the last quarter. UBS Group AG raised its stake in shares of iShares S&P 500 Growth ETF by 0.9% during the 3rd quarter. UBS Group AG now owns 8,911,282 shares of the company’s stock worth $1,075,770,000 after buying an additional 76,602 shares during the last quarter. Finally, Cetera Investment Advisers raised its stake in shares of iShares S&P 500 Growth ETF by 3.4% during the 4th quarter. Cetera Investment Advisers now owns 4,509,307 shares of the company’s stock worth $555,817,000 after buying an additional 146,739 shares during the last quarter.

iShares S&P 500 Growth ETF Stock Down 0.8%

iShares S&P 500 Growth ETF stock opened at $136.89 on Tuesday. iShares S&P 500 Growth ETF has a 52 week low of $104.21 and a 52 week high of $141.98. The firm’s 50-day simple moving average is $133.90 and its 200 day simple moving average is $125.40. The firm has a market capitalization of $74.19 billion, a PE ratio of 33.33 and a beta of 1.17.

iShares S&P 500 Growth ETF Company Profile

iShares S&P 500 Growth ETF, formerly iShares S&P 500 Growth Index Fund (the Growth Fund), is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield performance of the S&P 500/Citigroup Growth Index (the Growth Index). The Growth Index measures the performance of the large-capitalization growth sector of the United States equity market. The Growth Index is a subset of the S&P 500 and consists of those stocks in the S&P 500 exhibiting the strongest growth characteristics.