Bank of Nova Scotia has taken a significant step in its investment strategy by acquiring a stake in the Vanguard FTSE Developed Markets ETF (NYSEARCA: VEA). According to the bank’s recent Form 13F filing with the Securities and Exchange Commission, it purchased 1,294,700 shares valued at approximately $73.8 million during the second quarter of the year. This move reflects the bank’s commitment to diversifying its investment portfolio.
Several other institutional investors have also made adjustments to their holdings in the Vanguard ETF. For instance, Envestnet Asset Management Inc. increased its position by 1.0% during the second quarter, now owning 99,706,551 shares worth approximately $5.68 billion after acquiring an additional 958,633 shares. Similarly, Northwestern Mutual Wealth Management Co. boosted its stake by 3.2% in the first quarter, bringing its total to 59,628,214 shares valued at around $3.03 billion.
In addition, Northern Trust Corp increased its holdings by 3.5% during the same time frame, now owning 42,599,905 shares worth approximately $2.17 billion. Wealthspire Advisors LLC also expanded its stake by 1.2% during the second quarter, bringing its total to 22,786,946 shares valued at about $1.30 billion. Moreover, Vanguard Group Inc. raised its holdings by 8.7% during the second quarter, now possessing 21,417,579 shares valued at around $1.22 billion.
Stock Performance Overview
As of the latest trading session, shares of the Vanguard FTSE Developed Markets ETF opened at $62.04. The ETF boasts a market capitalization of $184.85 billion, a price-to-earnings ratio of 16.34, and a beta of 0.87. Over the past year, the ETF has experienced a 52-week low of $45.14 and a 52-week high of $62.32. Its 50-day moving average price stands at $60.80, while the 200-day moving average price is approximately $58.68.
About the Vanguard FTSE Developed Markets ETF
The Vanguard FTSE Developed Markets ETF, launched on July 20, 2007, primarily invests in a diversified portfolio of equities from developed markets outside the United States. It aims to track a market-cap weighted index that includes large-, mid-, and small-cap stocks, making it a popular choice for investors seeking exposure to international markets. Managed by Vanguard, this ETF continues to attract interest from both individual and institutional investors looking to enhance their portfolios through international diversification.
The recent activity surrounding the Vanguard FTSE Developed Markets ETF indicates a growing interest among prominent investors, reflecting a broader trend of diversification in investment strategies. As global markets continue to evolve, the ETF’s performance will likely be closely monitored by market participants seeking to capitalize on opportunities in developed economies.
