SageView Advisory Group LLC significantly reduced its holdings in the Goldman Sachs Equal Weight U.S. Large Cap Equity ETF (BATS:GSEW) by 72.3% during the fourth quarter, according to a recent filing with the SEC. The fund owned 7,696 shares of the company’s stock after selling 20,102 shares, with a value of $521,000 at the end of the reporting period.
Several other hedge funds and institutional investors also made changes to their positions in GSEW. Country Club Bank GFN, Exencial Wealth Advisors LLC, Gladstone Institutional Advisory LLC, Provence Wealth Management Group, and First Hawaiian Bank all adjusted their stakes in the ETF during the last quarter.
GSEW opened at $71.45 on Wednesday, with a market cap of $693.07 million and a price-to-earnings ratio of 21.36. The fund’s 50-day moving average is $70.77, and its two-hundred day moving average is $69.24.
The Goldman Sachs Equal Weight U.S. Large Cap Equity ETF primarily invests in large-cap equity and tracks an equal-weighted index of US large-cap stocks. Managed by Goldman Sachs, the fund was launched on Sep 12, 2017.
DailyBubble’s take: The recent adjustments made by various hedge funds and institutional investors in GSEW indicate a shifting landscape in the market. As the ETF continues to perform, it will be interesting to see how these changes impact its overall growth and performance in the coming months. Investors should keep an eye on GSEW’s movements and consider their own investment strategies accordingly.