Raymond James & Associates Significantly Reduces Stake in iShares Corporate Bond ETF

In a recent move during the third quarter, Raymond James & Associates cut its holdings in the iShares Aaa - A Rated Corporate Bond ETF (NYSEARCA: QLTA) by a substantial 63.6%. This was revealed in their latest filing with the SEC, where it came to light that the firm had sold 61,185 shares, leaving them with 35,027 shares in their portfolio. This reduction left Raymond James & Associates with an approximate 0.17% ownership in the ETF, amounting to a value of $1,579,000.

Adjustments in ETF Investments

Changes in ETF ownership were not exclusive to Raymond James & Associates. Other institutional investors and hedge funds also made adjustments to their QLTA holdings. NorthCrest Asset Manangement LLC slightly increased its position by 0.4% in the second quarter, owning 92,229 shares. Osaic Holdings Inc. and Venturi Wealth Management LLC made purchases as well, with the latter acquiring 660 additional shares for a 758.6% increase in their holdings. Notably, Captrust Financial Advisors boosted their stake by 33.3%, and CreativeOne Wealth LLC saw a marginal increase of 1.6% in their share count.

QLTA's Market Performance

The iShares Aaa - A Rated Corporate Bond ETF, trading under QLTA, experienced a minor decline of 0.2% on the last trading day noted. The ETF's price activity has fluctuated within the 52-week range of $43.80 to $48.80, with a recent 50-day moving average sitting at $47.38 and a 200-day average at $46.27.

Understanding QLTA's Investment Focus

The QLTA ETF mainly targets investment grade, fixed income assets. It follows a market-weighted index that includes USD-denominated, fixed-rate corporate bonds with a rating between AAA and A and a minimum maturity of one year, issued by both US and international corporations.

Investment, Reduction, Portfolio