Patten Group Inc. Increases Stock Holdings in iShares TIPS Bond ETF $TIP

Patten Group Inc. raised its stake in iShares TIPS Bond ETF (NYSEARCA:TIP) by 14.3% during the 4th quarter, HoldingsChannel reports. The firm owned 57,946 shares of the exchange traded fund’s stock after acquiring an additional 7,268 shares during the period. iShares TIPS Bond ETF accounts for 1.2% of Patten Group Inc.’s portfolio, making the stock its 14th biggest position. Patten Group Inc.’s holdings in iShares TIPS Bond ETF were worth $6,369,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of TIP. Bank of America Corp DE grew its stake in shares of iShares TIPS Bond ETF by 32.3% in the 3rd quarter. Bank of America Corp DE now owns 17,155,565 shares of the exchange traded fund’s stock valued at $1,908,042,000 after purchasing an additional 4,189,926 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of iShares TIPS Bond ETF by 615.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 649,189 shares of the exchange traded fund’s stock valued at $72,203,000 after purchasing an additional 558,456 shares during the last quarter. Sumitomo Life Insurance Co. grew its stake in shares of iShares TIPS Bond ETF by 44.3% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 1,471,634 shares of the exchange traded fund’s stock valued at $163,675,000 after purchasing an additional 451,450 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of iShares TIPS Bond ETF by 43.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,388,933 shares of the exchange traded fund’s stock valued at $152,991,000 after purchasing an additional 417,901 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of iShares TIPS Bond ETF by 672.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 334,716 shares of the exchange traded fund’s stock valued at $36,832,000 after purchasing an additional 291,412 shares during the last quarter. 63.62% of the stock is currently owned by hedge funds and other institutional investors.

iShares TIPS Bond ETF Trading Up 0.2%

Shares of TIP stock opened at $111.28 on Tuesday. The business’s 50 day moving average is $110.93 and its two-hundred day moving average is $110.81. iShares TIPS Bond ETF has a twelve month low of $107.98 and a twelve month high of $112.26. The company has a market capitalization of $14.07 billion, a P/E ratio of 12.40 and a beta of 0.28.

About iShares TIPS Bond ETF

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). The Index measures the performance of the inflation-protected public obligations of the United States Treasury, commonly known as TIPS. The Underlying Index includes all publicly-issued the United States Treasury inflation-protected securities that have at least one year remaining to maturity, are rated investment-grade and have $250 million or more of face value.