iShares TIPS Bond ETF (NYSEARCA:TIP) Hits New 12-Month Low – Here’s What Happened

iShares TIPS Bond ETF (NYSEARCA:TIP)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $108.26 and last traded at $108.34, with a volume of 93369 shares traded. The stock had previously closed at $109.43.

iShares TIPS Bond ETF Stock Performance

The company has a market cap of $14.67 billion, a PE ratio of 12.40 and a beta of 0.26. The firm has a fifty day simple moving average of $110.25 and a 200 day simple moving average of $110.51.

Institutional Investors Weigh In On iShares TIPS Bond ETF

A number of institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE raised its stake in iShares TIPS Bond ETF by 18.1% during the first quarter. Bank of America Corp DE now owns 24,329,782 shares of the exchange traded fund’s stock worth $2,685,035,000 after purchasing an additional 3,729,751 shares during the period. Valpey Financial Services LLC increased its holdings in shares of iShares TIPS Bond ETF by 10,997.3% during the 4th quarter. Valpey Financial Services LLC now owns 2,428,978 shares of the exchange traded fund’s stock worth $266,969,000 after buying an additional 2,407,090 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of iShares TIPS Bond ETF in the 4th quarter worth $187,000. Pictet Asset Management Holding SA boosted its holdings in iShares TIPS Bond ETF by 16.8% in the first quarter. Pictet Asset Management Holding SA now owns 1,491,300 shares of the exchange traded fund’s stock valued at $164,565,000 after acquiring an additional 214,700 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in iShares TIPS Bond ETF by 43.0% during the second quarter. Ameriprise Financial Inc. now owns 1,388,933 shares of the exchange traded fund’s stock valued at $152,991,000 after acquiring an additional 417,901 shares during the period. 63.62% of the stock is currently owned by hedge funds and other institutional investors.

iShares TIPS Bond ETF Company 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.