In a significant move echoing through the financial markets, UNIVEST FINANCIAL Corp recently announced a substantial reduction in its holdings of the SPDR Portfolio Long Term Treasury ETF (SPTL). This divestment, meticulously detailed in their latest 13F filing with the SEC, highlights a strategic adjustment in their investment portfolio amidst dynamic economic conditions.
Specifically, UNIVEST FINANCIAL Corp trimmed its stake in the prominent ETF by a notable 42.2% during the first quarter. This action resulted in the sale of 332,593 shares, leaving the institutional investor with 455,735 shares of SPTL. Such a decisive shift often signals a recalibration of investment strategy by major players in the market.
Despite this trimming, the SPDR Portfolio Long Term Treasury ETF still constitutes approximately 0.8% of UNIVEST FINANCIAL Corp’s total investment portfolio, marking it as their 27th largest position. As per their most recent SEC filing, the remaining SPTL holdings held by UNIVEST FINANCIAL Corp are valued at an impressive $12,423,000, representing about 0.11% ownership of the ETF.
UNIVEST FINANCIAL Corp is not alone in its activity concerning SPTL. A closer look at recent SEC filings reveals that numerous other institutional investors have also made significant changes to their positions in this long-term treasury ETF, reflecting varied investment strategies and market outlooks across the board.
For instance, Envestnet Asset Management Inc. substantially grew its institutional holdings in SPDR Portfolio Long Term Treasury ETF by 12.3% in the first quarter, acquiring an additional 1,832,569 shares. This expansion brought their total stake to 16,703,862 shares, valued at a staggering $455,347,000, underscoring a strong bullish stance on treasury bonds.
Similarly, the Municipal Employees Retirement System of Michigan increased its holdings by 27.3%, purchasing 3,190,578 additional shares, bringing their total to 14,880,982 shares valued at $405,655,000. LPL Financial LLC also showed confidence, growing its stake by 2.7%, while Mather Group LLC. and Mirae Asset Global Investments Co. Ltd. both significantly expanded their positions by 19.0% and 6.5% respectively, further illustrating the varied perspectives on this ETF investment.
The SPDR Portfolio Long Term Treasury ETF itself has experienced notable market performance. It recently opened at $26.25, with its 50-day moving average price at $26.02 and its two-hundred day moving average price at $26.40. The ETF has traded between a 12-month low of $25.17 and a 12-month high of $29.94, indicative of its volatility within the treasury bond market.
For context, the SPDR Portfolio Long Term Treasury ETF, formerly known as SPDR Barclays Capital Long Term Treasury ETF, aims to mirror the price and yield performance of the Barclays Capital Long U.S. Treasury Index. This index comprises publicly issued, investment grade United States treasury securities with a remaining maturity of 10 or more years and a substantial outstanding face value, making it a key benchmark for long-term treasury securities performance.
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