Trust Co of Tennessee Increases Stake in Vanguard Growth ETF

Trust Co of Tennessee has increased its investment in the Vanguard Growth ETF (NYSEARCA: VUG) by 0.5% during the third quarter of 2023. According to its most recent filing with the U.S. Securities and Exchange Commission, the firm now holds 237,227 shares of the ETF, having acquired an additional 1,172 shares during the quarter. This investment constitutes approximately 24.0% of Trust Co of Tennessee’s total holdings, making it the firm’s second-largest investment.

As of the latest filing, Trust Co of Tennessee’s stake in the Vanguard Growth ETF is valued at approximately $113.78 million, accounting for 0.06% of the ETF. The Vanguard Growth ETF has attracted interest from several other institutional investors as well, showcasing its appeal in the current market environment.

In a notable move, Laurel Wealth Advisors LLC significantly increased its holdings in the Vanguard Growth ETF by an astounding 45,810% during the second quarter. The firm now owns 9,185,671 shares, valued at around $4.03 billion, following the acquisition of an additional 9,165,663 shares.

Jones Financial Companies Lllp also bolstered its stake in the Vanguard Growth ETF by 12.9% during the first quarter, bringing its total to 32,272,101 shares worth approximately $11.95 billion. Similarly, Bank of America Corp DE increased its holdings by 1.8% in the second quarter, now owning 49,386,990 shares valued at about $21.65 billion.

Corient Private Wealth LLC raised its investment in the ETF by 97.7% during the same period, acquiring a total of 1,228,937 shares, valued at $538.79 million. Additionally, Alliancebernstein L.P. boosted its holdings by 142.2%, now owning 722,843 shares worth around $316.89 million.

The Vanguard Growth ETF itself has shown strong performance, opening at $492.54 on Tuesday. The ETF has a market capitalization of $199.93 billion and a price-to-earnings (P/E) ratio of 36.22, with a beta of 1.17. Its fifty-two week low stands at $316.14, while its high is $505.38. The ETF has a 50-day moving average of $488.72 and a 200-day moving average of $468.44.

The Vanguard Growth ETF, formerly known as the Vanguard Growth Index Fund, employs a passive management strategy designed to track the performance of the MSCI US Prime Market Growth Index. This index represents a diversified range of growth stocks from large-cap companies in the United States, underscoring the ETF’s focus on high-growth potential investments.

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