NRI Wealth Management LC Invests $35.40 Million in iShares Core S&P 500 ETF (NYSEARCA:IVV)

NRI Wealth Management LC has made a significant investment in the iShares Core S&P 500 ETF (NYSEARCA:IVV) during the fourth quarter. According to reports from Holdings Channel.com, the institutional investor acquired 60,131 shares of the ETF at an approximate value of $35,398,000. This substantial purchase positions the iShares Core S&P 500 ETF as the largest holding in NRI Wealth Management LC's investment portfolio, accounting for around 24.4% of its total assets.

In addition to NRI Wealth Management, other institutional investors have also been active in the iShares Core S&P 500 ETF. Safe Harbor Fiduciary LLC invested in this ETF during the third quarter, with a stake worth about $33,000. Cedar Wealth Management LLC expanded its position significantly by 139.3% during the same period, and now owns 67 shares valued at $39,000 after adding 39 shares. Kennebec Savings Bank and Brooklyn Investment Group each took new positions valued at $40,000 and $42,000 respectively, while Peterson Financial Group Inc. also acquired shares worth approximately $46,000 in the same quarter.

Performance of iShares Core S&P 500 ETF

As of the latest trading session, shares of the iShares Core S&P 500 ETF (IVV) opened at $587.45. The ETF has shown strong performance with a 50-day moving average pricing at $596.41 and a 200-day average at $572.46. The overall market capitalization of the ETF stands at $506.91 billion. It has a price-to-earnings (P/E) ratio of 25.23 and a beta of 0.99, suggesting a level of volatility similar to the market. Over the past year, the stock has seen a low of $468.65 and a high of $612.09.

About iShares Core S&P 500 ETF

The iShares Core S&P 500 ETF is designed to track the performance of the Standard & Poor's 500 Index, reflecting the investment returns that correspond to the large-cap sector of the U.S. equity market. It is classified as an exchange-traded fund (ETF), which allows investors to buy and sell shares on stock exchanges, similar to stocks.

investment, ETF, portfolio