Destination Wealth Management Has $354,000 Stock Position in iShares TIPS Bond ETF (NYSEARCA:TIP)

Destination Wealth Management boosted its holdings in iShares TIPS Bond ETF (NYSEARCA:TIP) by 48.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,318 shares of the exchange traded fund’s stock after purchasing an additional 1,080 shares during the quarter. Destination Wealth Management’s holdings in iShares TIPS Bond ETF were worth $354,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in TIP. Kohmann Bosshard Financial Services LLC bought a new stake in iShares TIPS Bond ETF in the fourth quarter worth approximately $26,000. Mainstream Capital Management LLC bought a new stake in iShares TIPS Bond ETF in the fourth quarter worth approximately $30,000. Kestra Investment Management LLC bought a new stake in iShares TIPS Bond ETF in the fourth quarter worth approximately $45,000. GPS Wealth Strategies Group LLC increased its holdings in iShares TIPS Bond ETF by 26.0% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 484 shares of the exchange traded fund’s stock worth $52,000 after purchasing an additional 100 shares in the last quarter. Finally, Washington Trust Advisors Inc. bought a new stake in iShares TIPS Bond ETF in the fourth quarter worth approximately $57,000.

iShares TIPS Bond ETF Stock Performance

Shares of TIP stock opened at $109.46 on Friday. The company has a market cap of $14.01 billion, a P/E ratio of 12.25 and a beta of 0.26. The stock has a 50 day simple moving average of $108.01 and a two-hundred day simple moving average of $108.51. iShares TIPS Bond ETF has a fifty-two week low of $104.67 and a fifty-two week high of $111.06.

iShares TIPS Bond ETF 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).