Ethic Inc. Acquires Stake in Parnassus Core Select ETF

Ethic Inc. has recently acquired a significant stake in the Parnassus Core Select ETF (NYSEARCA: PRCS), as disclosed in its latest filing with the Securities and Exchange Commission. During the second quarter of 2023, Ethic Inc. purchased 25,740 shares of the ETF, valued at approximately $653,000. This acquisition highlights the growing interest among institutional investors in Parnassus Core Select ETF.

Other institutional investors have also adjusted their holdings in PRCS. Natural Investments LLC acquired a new stake in the ETF during the first quarter, worth around $221,000. Similarly, Goldman Sachs Group Inc. invested approximately $625,000 in the same period. Additionally, Financial Insights Inc. made a substantial investment in the second quarter, buying shares valued at about $2,455,000.

Performance Overview of Parnassus Core Select ETF

As of Tuesday, shares of the Parnassus Core Select ETF opened at $27.00 per share. The ETF boasts a market capitalization of $67.50 million and a price-to-earnings ratio of 31.55, indicating its valuation relative to earnings. The stock has a beta of 1.07, suggesting it is slightly more volatile than the overall market.

Recent price trends show the ETF has a 50-day moving average of $26.11 and a 200-day moving average of $25.15. Over the past year, the stock has fluctuated between a low of $20.38 and a high of $27.01, reflecting its performance in a competitive market.

Insights on Parnassus Core Select ETF

The Parnassus Core Select ETF primarily focuses on large-cap equities, investing in a concentrated portfolio of 20-30 large-cap US equity securities. The fund is actively managed, concentrating on both value and growth stocks while emphasizing companies with strong financials and sustainable business practices. The aim is to minimize exposure to market risk, aligning with the interests of socially responsible investors.

Launched on December 12, 2024, the Parnassus Core Select ETF is issued by Parnassus Investments, a firm known for its commitment to responsible investing practices. As institutional interest continues to grow, the ETF’s performance will be closely monitored by investors and analysts alike.

For those wishing to keep track of further developments regarding the Parnassus Core Select ETF, resources such as HoldingsChannel.com offer updated insights on 13F filings and insider trades. Additionally, MarketBeat.com provides a daily summary of news and analysts’ ratings related to the ETF and its peers.