Industrial Alliance Investment Management Inc. Scales Down Stake in Vanguard Dividend Appreciation ETF

Industrial Alliance Investment Management Inc. has significantly reduced its investment in the Vanguard Dividend Appreciation ETF (NYSEARCA:VIG), with a 47.4% cutback reported in its most recent 13F filing with the Securities and Exchange Commission (SEC). After liquidating 1,451 shares during the quarter, the firm's remaining stake in the ETF comprised 1,613 shares, valued at approximately $262,000 at the close of the latest reporting period.

Other Investors Adjust Positions

Meanwhile, other hedge funds and institutional investors have been adjusting their positions in VIG. Some institutions, like Cascade Investment Advisors Inc. and WealthPLAN Partners LLC, have initiated new holdings in the ETF during the first quarter, each investing close to $27,000. Financial Freedom LLC began a new position worth around $28,000 in the fourth quarter preceding. Additionally, Winch Advisory Services LLC significantly increased their holdings by 185.5% in the second quarter, owning 197 shares valued at $32,000 after acquiring an additional 128 shares. Meitav Investment House Ltd. also started a new investment in VIG during the second quarter, worth $32,000.

ETF Performance Update

The Vanguard Dividend Appreciation ETF experienced an uptick in trading, with share values rising by 0.7%. On the day in question, shares increased by $1.20, with the final price resting at $166.65. This trading volume saw 390,971 shares change hands, against an average of 1,177,249 typically traded. VIG's performance over the year revealed a low of $146.17 and a peak of $167.33. Boasting a market capitalization of $71.19 billion, a P/E ratio of 20.10, and a beta of 0.85, the ETF maintains a 50-day simple moving average of $158.51 and a two-hundred day simple moving average of $160.10.

About Vanguard Dividend Appreciation ETF

The ETF endeavors to mirror the performance of the Dividend Achievers Select Index. As an exchange-traded share class of Vanguard Dividend Appreciation Index Fund, the Vanguard Dividend Appreciation ETF holds a portfolio that closely resembles the index's composition. By owning a proportional mix of all stocks listed in the index, the Fund aims to adhere to the index's weighted methodology.

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