Bedel Financial Consulting Boosts Stake in Vanguard Information Technology ETF
Bedel Financial Consulting Inc. has increased its holdings in the Vanguard Information Technology ETF (NYSEARCA: VGT) by 8.1% during the first quarter of 2024. According to HoldingsChannel, the firm now owns 895 shares of the ETF, following the purchase of an additional 67 shares. As of its latest filing with the Securities and Exchange Commission (SEC), Bedel’s stake in the fund is valued at approximately $501,000.
Several other institutional investors have also adjusted their positions in the Vanguard Information Technology ETF. Notably, Wells Fargo & Company MN raised its stake by 10.5% in the fourth quarter of 2023. The firm now holds 1,514,592 shares valued at $941.77 million after acquiring an additional 144,217 shares during that period.
In the same vein, Harel Insurance Investments & Financial Services Ltd. increased its position by 7.7% during the first quarter, bringing its total to 726,684 shares worth $394.14 million. Stifel Financial Corp also boosted its holdings by 1.8% in the fourth quarter, now owning 397,332 shares valued at $247.08 million.
SRB Corp made a significant move, growing its stake by an impressive 104.1% during the fourth quarter, resulting in ownership of 272,826 shares valued at $169.64 million. Lastly, Cetera Investment Advisers increased its holdings by 15.8% in the first quarter, owning 261,864 shares worth $142.03 million.
Vanguard Information Technology ETF: Current Performance Metrics
As of March 1, 2024, the Vanguard Information Technology ETF opened at $688.69. The fund’s 50-day simple moving average is $644.40, while its 200-day average stands at $601.10. The ETF has experienced a 1-year low of $451.00 and a high of $691.64. With a market capitalization of $98.10 billion, the ETF boasts a price-to-earnings (PE) ratio of 34.55 and a beta of 1.16, indicating its volatility relative to the market.
The Vanguard Information Technology ETF aims to track the performance of the MSCI US Investable Market Information Technology 25/50 Index. This benchmark includes a diverse range of large-, mid-, and small-cap stocks within the United States technology sector, as categorized by the Global Industry Classification Standard (GICS).
For those interested in further investment insights, HoldingsChannel.com provides updates on hedge fund positions in the Vanguard Information Technology ETF, including the latest 13F filings and insider trades.
This recent activity among institutional investors highlights the growing interest in technology-focused investments, particularly as the sector continues to evolve and expand.
