TIAA Trust Boosts SPDR S&P 500 Growth ETF Holdings by 52.4%

TIAA Trust National Association has significantly increased its stake in the SPDR Portfolio S&P 500 Growth ETF (NYSEARCA: SPYG). According to its recent filing with the Securities and Exchange Commission, the firm raised its holdings by an impressive 52.4% during the second quarter of 2023, now owning 2,030,896 shares after acquiring 698,343 additional shares in this period. This investment valued at approximately $193,585,000 represents around 0.51% of the total shares of the ETF.

The investment landscape for SPDR Portfolio S&P 500 Growth ETF has seen notable activity from various institutional investors. For example, Ciovacco Capital Management LLC entered the fray by purchasing a new stake worth $21,355,000 during the same quarter. Meanwhile, Strategic Financial Concepts LLC made headlines by lifting its stake by an astounding 9,486.5%, bringing its total ownership to 851,088 shares valued at $81,126,000 after acquiring 842,210 additional shares.

GHP Investment Advisors Inc. also expanded its position, increasing its stake by 3.2% and now holds 197,256 shares valued at $18,802,000. Additionally, Hutchinson Financial Advisors INC and Rede Wealth LLC made smaller yet significant investments, with the latter expanding its holdings by 4.4% to 25,263 shares worth about $2,408,000.

SPYG Performance Overview

As of the most recent trading session, shares of SPDR Portfolio S&P 500 Growth ETF opened at $108.06. The ETF boasts a market capitalization of $45.39 billion and has a price-to-earnings (P/E) ratio of 32.28. Its stock has experienced a one-year low of $68.65 and a high of $109.63, indicating a notable recovery and growth trajectory.

The 50-day simple moving average for the ETF stands at $103.69, while the 200-day simple moving average is at $95.92. These metrics suggest a strong performance relative to previous periods, reflecting increasing investor confidence.

About SPDR Portfolio S&P 500 Growth ETF

The SPDR S&P 500 Growth ETF, previously known as the SPDR Dow Jones Large Cap Growth ETF, aims to provide investment results that correspond to the total return performance of an index that tracks the performance of equity securities. Specifically, it seeks to match the returns and characteristics of the S&P 500 Growth Index.

As institutional interest continues to grow, the SPDR Portfolio S&P 500 Growth ETF remains a focal point for investors looking to capitalize on the performance of large-cap growth stocks in the U.S. market. With increasing investments from firms like TIAA Trust and others, its trajectory appears promising in the evolving financial landscape.