Cranbrook Wealth Management LLC Decreases Stake in iShares TIPS Bond ETF (NYSEARCA:TIP)

Cranbrook Wealth Management LLC lowered its position in iShares TIPS Bond ETF (NYSEARCA:TIP) by 7.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,800 shares of the exchange traded fund’s stock after selling 3,811 shares during the quarter. iShares TIPS Bond ETF makes up approximately 1.3% of Cranbrook Wealth Management LLC’s portfolio, making the stock its 22nd biggest position. Cranbrook Wealth Management LLC’s holdings in iShares TIPS Bond ETF were worth $5,424,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. YHB Investment Advisors Inc. purchased a new stake in shares of iShares TIPS Bond ETF in the first quarter valued at $30,000. Private Ocean LLC raised its stake in iShares TIPS Bond ETF by 66.7% during the second quarter. Private Ocean LLC now owns 290 shares of the exchange traded fund’s stock worth $31,000 after acquiring an additional 116 shares during the period. Salem Investment Counselors Inc. bought a new stake in iShares TIPS Bond ETF in the 1st quarter valued at about $36,000. Gradient Investments LLC boosted its position in iShares TIPS Bond ETF by 352.7% during the 2nd quarter. Gradient Investments LLC now owns 335 shares of the exchange traded fund’s stock worth $36,000 after acquiring an additional 261 shares during the period. Finally, Hobbs Group Advisors LLC acquired a new position in shares of iShares TIPS Bond ETF during the second quarter valued at approximately $40,000.

iShares TIPS Bond ETF Trading Up 0.3 %

Shares of TIP opened at $110.82 on Tuesday. The business’s 50-day moving average price is $108.49 and its 200 day moving average price is $107.22. The stock has a market capitalization of $19.23 billion, a P/E ratio of 11.86 and a beta of 0.09. iShares TIPS Bond ETF has a 1-year low of $101.74 and a 1-year high of $110.87.

iShares TIPS Bond ETF Company Profile

iShares TIPS Bond ETF (the Fund), formerly iShares Barclays Treasury Inflation Protected Securities Bond Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Barclays U.S. Treasury Inflation Protected Securities (TIPS) Index (Series-L) (the Index).