Sumitomo Life Insurance Co. Purchases New Stake in iShares TIPS Bond ETF (NYSEARCA:TIP)

Sumitomo Life Insurance Co. acquired a new stake in iShares TIPS Bond ETF (NYSEARCA:TIP) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 925,136 shares of the exchange traded fund’s stock, valued at approximately $102,200,000. iShares TIPS Bond ETF makes up approximately 2.0% of Sumitomo Life Insurance Co.’s portfolio, making the stock its 6th biggest position. Sumitomo Life Insurance Co. owned 0.53% of iShares TIPS Bond ETF at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. William B. Walkup & Associates Inc. bought a new stake in shares of iShares TIPS Bond ETF during the 2nd quarter valued at about $26,000. Private Ocean LLC grew its holdings in shares of iShares TIPS Bond ETF by 66.7% during the second quarter. Private Ocean LLC now owns 290 shares of the exchange traded fund’s stock valued at $31,000 after purchasing an additional 116 shares during the last quarter. Salem Investment Counselors Inc. acquired a new stake in shares of iShares TIPS Bond ETF during the 1st quarter worth approximately $36,000. Gradient Investments LLC lifted its holdings in shares of iShares TIPS Bond ETF by 352.7% in the 2nd quarter. Gradient Investments LLC now owns 335 shares of the exchange traded fund’s stock worth $36,000 after purchasing an additional 261 shares during the last quarter. Finally, Hobbs Group Advisors LLC bought a new stake in shares of iShares TIPS Bond ETF in the 2nd quarter worth approximately $40,000.

iShares TIPS Bond ETF Price Performance

NYSEARCA:TIP traded up $0.12 during midday trading on Wednesday, reaching $109.61. 65,070 shares of the company traded hands, compared to its average volume of 1,906,749. iShares TIPS Bond ETF has a twelve month low of $102.32 and a twelve month high of $111.06. The company has a fifty day moving average price of $109.54 and a 200 day moving average price of $107.66. The firm has a market capitalization of $19.02 billion, a price-to-earnings ratio of 11.86 and a beta of 0.09.

iShares TIPS Bond ETF Company Profile

iShares TIPS Bond ETF (the Fund), formerly iShares Barclays Treasury Inflation Protected Securities Bond Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Barclays U.S. Treasury Inflation Protected Securities (TIPS) Index (Series-L) (the Index).