Acorn Financial Increases Stake in Avantis U.S. Equity ETF to $18.3 Million

Acorn Financial Advisory Services Inc. ADV has enhanced its investment in the Avantis U.S. Equity ETF (NYSEARCA: AVUS), as revealed in their latest filing with the Securities and Exchange Commission (SEC). The financial advisory firm's holdings in AVUS saw an uptick of 2.3% during the third quarter, resulting in a total of 250,057 shares owned, an increase from the prior holding of 5,711 shares. This increase brings Acorn Financial Advisory Services' stake in the ETF to a value of roughly $18.30 million at the time of reporting, which accounts for approximately 3.3% of their total portfolio, making AVUS the 8th largest position in their holdings.

Other Hedge Funds Adjust AVUS Positions

Acorn Financial Advisory Services is not the only firm making changes to its AVUS position. Anderson Hoagland & Co. raised its stake by 15.1% during the same quarter, now holding 72,619 shares valued at around $5.32 million. Similarly, Householder Group Estate & Retirement Specialist LLC entered a new position in AVUS, with an investment worth $303,000. Apella Capital LLC's AVUS shares saw an increase of 3.4%, now totaling 33,249 shares valued at $2.44 million. Moreover, ZRC Wealth Management LLC and Foundations Investment Advisors LLC also increased their holdings by 1.2% and 25.4%, respectively.

AVUS Market Performance

During mid-day trading on a recent Friday, AVUS stock saw a slight decline of 0.3%, with shares trading at $80.76. Despite the drop, the ETF maintains a strong market presence, with an average trading volume exceeding its daily average. The ETF, which closely follows the Russell 3000 index and focuses on profitable or value companies across various market capitalizations, has a market capitalization of $4.80 billion, a price-to-earnings ratio of 13.74, and a beta of 1.05. The past year has seen AVUS fluctuate between a low of $66.57 and a high of $81.21, with a 50-day moving average price of $75.00 and a 200-day moving average price just slightly higher.

About Avantis U.S. Equity ETF

The Avantis U.S. Equity ETF offers an actively managed portfolio diversified across U.S. equities of all sizes, with a preference for smaller, more efficiently run, or value-oriented businesses. The ETF, launched by American Century Investments in September 2019, has since become a relevant option for investors looking to tap into the U.S. equity market.

AcornFinancial, Avantis, Investment