Thrivent Financial Reduces Stake in iShares Russell Mid-Cap ETF by Over 19%

In a notable portfolio adjustment during the second quarter, Thrivent Financial for Lutherans has curtailed its investment in the iShares Russell Mid-Cap ETF (NYSEARCA:IWR), a significant fund representing the mid-cap sector of the U.S. equity market. As per the latest Form 13F filing with the Securities & Exchange Commission, the reduction encompasses a 19.2% sell-off, translating to 78,140 shares being sold, which left Thrivent Financial owning 329,607 shares.

Investor Activity

This adjustment in Thrivent Financial's portfolio mirrors a continuing trend among other institutional investors altering their stakes in IWR. Examples of such activity include Northwest Capital Management Inc.'s fresh acquisition valued at $25,000 during the second quarter, and Credit Suisse AG initiating a new position with an investment of about $26,000 in the fourth quarter. Notably, Armstrong Advisory Group Inc. significantly expanded its holdings by 139.6%, bringing its total share count to 381, valued at $28,000. New positions were also started by Pacific Center for Financial Services and True Wealth Design LLC, reflecting a broader interest in IWR from various financial entities.

IWR's Market Outlook

The iShares Russell Mid-Cap ETF commenced trading at $73.23 on a recent Wednesday, indicating the dynamic nature of the fund's stock. Boasting a market capitalization of $28.90 billion, a price-to-earnings ratio of 15.16, and a beta of 1.09, IWR presents a noteworthy opportunity for investors. The ETF's performance can be tracked through its moving averages, with a 50-day average at $69.12 and a 200-day average at $71.12, and is bracketed by a fifty-two-week low of $64.66 and a high of $76.21.

About iShares Russell Mid-Cap ETF

The ETF aims to reflect the performance results similar to the Russell Midcap Index, providing investors with exposure to the mid-capitalization sector. The Russell Midcap Index is designed to measure the performance of the middle tier of the U.S. equity market, making the IWR ETF a strategic choice for diversified investment portfolios.

ThriventFinancial, iShares, ETF