PNC Financial Services Group Inc. Expands Holding in Vanguard Mid-Cap Value ETF

PNC Financial Services Group Inc. has increased its ownership in the Vanguard Mid-Cap Value ETF (VOE) by 2.3% during the second quarter, as stated in its recent filing with the Securities and Exchange Commission (SEC). The financial institution now holds 2,104,833 shares of the ETF after purchasing an additional 47,763 shares within the quarter. PNC Financial Services Group Inc.'s stake in VOE is reported to be worth approximately $291,267,000, based on the latest SEC filings, making up roughly 1.80% of the ETF’s total shares.

Investments in VOE have not just been a move by PNC Financial Services Group Inc. Other institutions and hedge funds have been adjusting their positions as well. For example, SeaCrest Wealth Management LLC enhanced its stake by 1.9% in the fourth quarter, while Ten Capital Wealth Advisors LLC increased its investment by 7.3% in the second quarter. Furthermore, MAS Advisors LLC and Diversified LLC also notably expanded their holdings in the same period.

VOE's Market Performance

On the trading front, VOE shares saw a slight decrease, with the trading price dropping by $0.37 to close at $134.62 on a recent Tuesday. Despite daily fluctuations, the ETF has maintained a steady 50-day moving average of $130.75, with a 200-day moving average slightly higher at $134.66. Vanguard Mid-Cap Value ETF's price range over the past 52 weeks has seen a low of $123.92 with a high-reaching $147.74. Its market capitalization now stands at $15.74 billion, backed by a P/E ratio of 13.40 and a beta of 1.05, indicating moderate market volatility.

About the Vanguard Mid-Cap Value ETF

Vanguard Mid-Cap Value Index Fund, encompassing the ETF, is a mutual fund offering two different classes of shares: the Investor Shares and the ETF Shares. Both classes are open for investment; however, meeting the minimum purchase requirements is a must for Investor Shares, whereas ETF Shares are readily tradeable through a broker.

PNC, Investment, VOE