Riggs Asset Management Reduces Stake in Vanguard Growth ETF by 30%

Riggs Asset Management Co. Inc. has decreased its stake in the Vanguard Growth ETF (NYSEARCA: VUG) by 30.2% during the third quarter of 2023. According to a report by HoldingsChannel, the firm now holds 5,494 shares of the ETF after selling 2,374 shares in the recent period. The value of Riggs’ holdings in Vanguard Growth ETF stood at approximately $2,635,000 as of its most recent filing with the Securities and Exchange Commission.

Several other investment firms have also adjusted their positions in Vanguard Growth ETF recently. Kilter Group LLC initiated a new position in the ETF during the second quarter, acquiring shares valued at around $33,000. In the same period, Anfield Capital Management LLC significantly increased its stake by 266.7%, bringing its total to 77 shares worth about $34,000 after purchasing an additional 56 shares.

During the third quarter, both Friedenthal Financial and Ramirez Asset Management Inc. purchased new stakes in the Vanguard Growth ETF, each valued at $38,000. Another firm, Family Legacy Financial Solutions LLC, also acquired a new stake during this period, with an investment of approximately $46,000.

Current Stock Performance and Overview

As of the latest trading session, Vanguard Growth ETF opened at $458.08. The stock has experienced a wide range over the past year, with a fifty-two week low of $316.14 and a high of $505.38. The ETF currently has a fifty-day moving average of $475.68 and a two-hundred day moving average of $478.98. With a market capitalization of $191.08 billion, the ETF boasts a price-to-earnings ratio of 36.22 and a beta of 1.17, indicating its volatility compared to the market.

The Vanguard Growth ETF is part of the broader Vanguard Growth Index Fund, which employs a passive management strategy aimed at tracking the performance of the MSCI US Prime Market Growth Index. This index is designed to reflect the performance of growth stocks from large-cap companies in the United States, representing a significant segment of the equity market.

For those interested in tracking further movements within Vanguard Growth ETF, HoldingsChannel.com offers updated 13F filings and insights into insider trades related to VUG. Subscribers can also receive daily summaries of the latest news and analysts’ ratings through MarketBeat.com’s complimentary newsletter.