Montecito Bank & Trust Acquires $4.48 Million Stake in ETF

Montecito Bank & Trust has taken a significant step in its investment strategy by acquiring a new stake in the SPDR MSCI ACWI ex-US ETF, valued at approximately $4.48 million. The bank purchased 128,282 shares of the fund’s stock during the third quarter of 2023, as detailed in its latest filing with the U.S. Securities and Exchange Commission (SEC). Following this investment, Montecito Bank & Trust now holds about 0.21% of the SPDR MSCI ACWI ex-US ETF.

Several other prominent investors have also adjusted their positions in this fund. Notably, Sterling Group Wealth Management LLC increased its stake by 4.0% in the same quarter, now owning 160,981 shares valued at approximately $5.62 million. This adjustment follows the purchase of an additional 6,127 shares.

Another firm, Corient Private Wealth LLC, raised its holdings by 3.5% during the second quarter, acquiring a total of 47,397 shares valued at about $1.55 million. Additionally, Thrivent Financial for Lutherans entered the market with a new position valued at around $3.14 million. Geneos Wealth Management Inc. significantly boosted its investment by 171.7%, now owning 3,948 shares worth approximately $129,000 after purchasing 2,495 shares during the same period. Lastly, WFA of San Diego LLC made a new investment valued at about $577,000.

ETF Performance Overview

As of Thursday, the SPDR MSCI ACWI ex-US ETF opened at $35.04. Over the past year, the ETF has reached a low of $26.07 and a high of $36.19. The fund has a market capitalization of $2.19 billion and a price-to-earnings ratio of 16.06. Its 50-day moving average stands at $35.31, while the 200-day moving average is at $33.98.

The SPDR MSCI ACWI ex-US ETF aims to replicate the total return performance of the MSCI ACWI ex USA Index, which includes equity market performance from developed and emerging markets, excluding the United States. This investment is particularly appealing to investors looking to diversify their portfolios beyond domestic markets.

Montecito Bank & Trust’s decision to invest in the SPDR MSCI ACWI ex-US ETF reflects a broader trend among financial institutions to capture international market opportunities. Such actions underscore the growing interest in funds that provide exposure to global equities, especially given the current economic climate.

For those interested in the latest movements in this sector, platforms like HoldingsChannel.com offer insights into hedge fund holdings and recent trading activity related to the SPDR MSCI ACWI ex-US ETF.