Procyon Advisors Increases Stake in Vanguard High Dividend Yield ETF

Procyon Advisors LLC has raised its stake in the Vanguard High Dividend Yield ETF (NYSEARCA: VYM) by 5.2% during the third quarter of 2023. According to a recent filing with the Securities and Exchange Commission, the firm now holds 114,205 shares of the ETF after acquiring an additional 5,653 shares in the quarter. This investment represents approximately 0.3% of Procyon Advisors LLC’s overall portfolio, making VYM its 23rd largest holding.

As of the end of the third quarter, Procyon Advisors LLC’s investment in the Vanguard High Dividend Yield ETF is valued at approximately $16.1 million. This follows a trend among various hedge funds that have been actively trading in VYM. For instance, during the second quarter, Moisand Fitzgerald Tamayo LLC established a new position in the ETF worth around $27,000. Similarly, Financial Management Professionals Inc. acquired shares valued at about $31,000.

In a notable increase, Strategic Investment Solutions Inc. boosted its stake in VYM by a staggering 92.0% during the same quarter, resulting in ownership of 263 shares valued at approximately $35,000 after acquiring an additional 126 shares. Other firms, including Kiker Wealth Management LLC and Nvwm LLC, also established new positions in VYM during this period, each valued around $35,000.

Current Performance and Market Metrics

Shares of the Vanguard High Dividend Yield ETF opened at $148.07 on Thursday, showing a slight increase of 0.3%. Over the past year, the ETF has experienced a low of $112.05 and a high of $148.15. The ETF boasts a market capitalization of $71.16 billion, a price-to-earnings (P/E) ratio of 17.79, and a beta of 0.79. The 50-day moving average price stands at $143.96, while the 200-day moving average price is $140.26.

Understanding Vanguard High Dividend Yield ETF

The Vanguard High Dividend Yield Index Fund (VYM) is an exchange-traded fund that tracks the FTSE Custom High Dividend Yield Index. This index selects high-dividend-paying U.S. companies, excluding real estate investment trusts (REITs), and weights them according to market capitalization. Launched on November 10, 2006, VYM is managed by Vanguard, a leading investment management company.

For those interested in further insights on hedge fund holdings in VYM, resources like HoldingsChannel.com provide the latest 13F filings and insider trades related to the ETF. Additionally, MarketBeat.com offers a free daily email newsletter summarizing news and analyst ratings for Vanguard High Dividend Yield ETF and similar investment opportunities.

The continued interest from various investment firms highlights the attractiveness of VYM as a stable investment choice for those looking to capitalize on high dividend yields in the current market landscape.