US Bancorp DE Reduces Stake in iShares Agency Bond ETF (NYSEARCA:AGZ)

On November 4, 2024, it was reported that US Bancorp DE has trimmed its position in the iShares Agency Bond ETF (NYSEARCA:AGZ) by 4.1% during the third quarter of the year. Following a sale of 2,477 shares, the firm currently holds 57,974 shares of the ETF, valuing its investment at approximately $6,400,000 at the end of the most recent quarter.

Institutional Investors Adjust Their Portfolios

Other institutional investors have also made adjustments to their holdings in the iShares Agency Bond ETF. For instance, Citizens Financial Group Inc. RI boosted its position by 3.6% in the second quarter, acquiring an additional 139 shares, which brought its total to 4,013 shares worth $432,000. Similarly, Csenge Advisory Group raised its stake by 2.9% during the first quarter, now possessing 10,026 shares valued at $1,083,000 after buying 284 additional shares. Moreover, CVA Family Office LLC increased its holdings by 1.0% in the second quarter, owning 29,010 shares valued at $3,122,000 after acquiring 288 more shares.

Comerica Bank also enhanced its position with a substantial 17.5% increase in the first quarter, adding 317 shares to reach a total of 2,127 shares worth about $230,000. Additionally, New Covenant Trust Company N.A. entered the scene by acquiring a new position valued at $58,000 in the same quarter. Overall, institutional investors currently hold about 9.74% of the iShares Agency Bond ETF.

Recent Performance of iShares Agency Bond ETF

As of Monday, AGZ stock opened at $108.41. The ETF has shown notable price movements, reflecting a 50-day moving average of $109.88 and a two-hundred-day moving average of $108.67. Over the last year, the iShares Agency Bond ETF has experienced a low of $105.65 and a high of $110.89, indicating a relatively stable yet dynamic market presence.

About iShares Agency Bond ETF

The iShares Agency Bond ETF, which is managed by BlackRock, aims to provide investment results that align closely with the performance of the U.S. government bond market, particularly the agency sector, as indicated by the Barclays Capital U.S. Agency Index. Investors look to this ETF for its ability to offer exposure to government-backed securities, characterized by lower risk profiles and steady income streams.

Conclusion

With the recent adjustments by US Bancorp DE and other institutional investors, the iShares Agency Bond ETF continues to attract attention. Investors may wish to monitor these shifts and the overall performance of AGZ as they make their investment decisions in the bond market.

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