Cornerstone Advisors Asset Management LLC Grows Position in Vanguard Information Technology ETF $VGT

Cornerstone Advisors Asset Management LLC increased its stake in shares of Vanguard Information Technology ETF (NYSEARCA:VGT) by 700.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 106,471 shares of the exchange traded fund’s stock after buying an additional 93,165 shares during the quarter. Vanguard Information Technology ETF comprises about 1.7% of Cornerstone Advisors Asset Management LLC’s holdings, making the stock its 16th largest position. Cornerstone Advisors Asset Management LLC’s holdings in Vanguard Information Technology ETF were worth $12,725,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kingdom Financial Group LLC. purchased a new position in Vanguard Information Technology ETF during the 4th quarter worth $27,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Vanguard Information Technology ETF by 497.4% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 233 shares of the exchange traded fund’s stock valued at $28,000 after acquiring an additional 194 shares in the last quarter. RHL Group LLC acquired a new position in shares of Vanguard Information Technology ETF during the fourth quarter worth about $31,000. Jessup Wealth Management Inc acquired a new position in shares of Vanguard Information Technology ETF during the fourth quarter worth about $31,000. Finally, Semmax Financial Advisors Inc. purchased a new position in Vanguard Information Technology ETF during the second quarter worth about $31,000.

Vanguard Information Technology ETF Stock Up 0.3%

Shares of NYSEARCA:VGT opened at $121.27 on Friday. Vanguard Information Technology ETF has a 52 week low of $83.09 and a 52 week high of $126.00. The company has a 50-day moving average price of $117.35 and a 200 day moving average price of $107.87. The company has a market cap of $148.67 billion, a P/E ratio of 34.55 and a beta of 1.35.

Vanguard Information Technology ETF Profile

Vanguard Information Technology ETF seeks to track the investment performance of the MSCI US Investable Market Information Technology 25/50 Index, a benchmark of large-, mid-, and small-cap United States stocks in the information technology sector, as classified under the Global Industry Classification Standard (GICS). This GICS sector is made up of companies in three areas: technology software and services, including companies that develop software in various fields (such as the Internet, applications, systems, databases, and/or home entertainment), and companies that provide information technology consulting and services, data processing, and outsourced services; technology hardware and equipment, including manufacturers and distributors of communications equipment, computers and peripherals and electronic equipment, and semiconductors and semiconductor equipment manufacturers.