LPL Financial LLC has decreased its position in the Invesco S&P MidCap 400 GARP ETF (NYSEARCA:GRPM) by 11.5% during the first quarter of 2023, as reported in its latest filing with the U.S. Securities and Exchange Commission (SEC). The firm now holds 175,930 shares of the ETF after selling 22,943 shares during this period. This reduction means that LPL Financial LLC owns 3.94% of the Invesco ETF, which was valued at approximately $18.42 million at the end of March.
Several other institutional investors have also made adjustments to their stakes in the Invesco S&P MidCap 400 GARP ETF recently. AE Wealth Management LLC notably increased its holdings by 65.9% in the first quarter, acquiring an additional 213 shares to reach a total of 536 shares, valued at $56,000.
In the fourth quarter of 2022, Glass Jacobson Investment Advisors LLC raised its stake in the ETF by 18.2%, owning 670 shares worth $76,000 after purchasing an additional 103 shares. Similarly, Creative Financial Designs Inc. ADV expanded its holdings by 16.5% in the first quarter, now controlling 2,638 shares valued at $276,000.
Bank of Montreal Can made a significant move, increasing its stake by an impressive 984.5% in the fourth quarter, bringing its total to 3,362 shares, valued at $379,000. Mariner LLC also boosted its stake by 83.4% during the same period, now owning 3,692 shares worth $416,000.
Current Market Performance
As of the latest trading session, shares of the Invesco S&P MidCap 400 GARP ETF opened at $114.10. The ETF has experienced a year marked by volatility, with a low of $89.15 and a high of $127.48. The stock’s performance is reflected in its 50-day moving average price of $110.35 and a 200-day moving average price of $107.44. At present, the ETF has a market capitalization of $465.53 million, a price-to-earnings ratio of 13.88, and a beta of 1.09.
The Invesco S&P MidCap 400 GARP ETF, launched on December 8, 2010, tracks an index comprised of U.S. mid-cap growth stocks that exhibit quality and value characteristics. As the market landscape continues to evolve, the adjustments made by institutional investors could influence the ETF’s performance going forward.
For those interested in further details on institutional holdings, resources such as HoldingsChannel.com provide insights into the latest 13F filings and insider trades related to the Invesco S&P MidCap 400 GARP ETF.
