Wealth Advisers Cut Stakes Across Five iShares ETFs
Wealth Advisers Cut Stakes Across Five iShares ETFs
Anonymous
Key Points
1
After its 42% reduction, Integrated Wealth Concepts LLC still held 7,318 shares of the iShares Convertible Bond ETF, valued at approximately $891,000.
2
Bank of America increased its iShares 0-3 Month Treasury Bond ETF position by 13.2% to 12.17 million shares worth about $1.23 billion, while Cerity Partners more than doubled its holdings, increasing them by 111.8%.
3
First Citizens Bank & Trust Co. made one of the largest increases among the reported funds, expanding its iShares 10-20 Year Treasury Bond ETF stake by 12,382.6% to 942,313 shares valued at roughly $94.9 million.
4
Following its sale, Corient Private Wealth LP held 279,868 shares of the iShares Global REIT ETF, with the position valued at approximately $7.73 million.
5
The iShares 3-7 Year Treasury Bond ETF was trading at $114.24, near its one-year low of $114.21, when the report was published; its 50-day and 200-day moving averages were $116.12 and $117.29, respectively.
Institutional investors made mixed moves in iShares ETFs during the second quarter, with some wealth advisers cutting stakes while others doubled down. SEC Filings show that Integrated Wealth Concepts trimmed its iShares Convertible Bond ETF position by 42%, while Waverly Advisors slashed its 10-20 Year Treasury Bond ETF holding by 54.7%. Yet other major firms moved in the opposite direction—First Citizens Bank expanded its Treasury position by an extraordinary 12,382.6%, and Bank of America boosted its money-market Treasury holdings by 13.2% to $1.23 billion.
Major Treasury Bond Selloffs Signal Caution
Several wealth managers reduced exposure to Treasury bond ETFs in Q2. Corient Private Wealth cut its 3-7 Year Treasury stake by 13.7% and its ultra-short 0-3 Month Treasury position by 64.1%, leaving 279,868 shares of its Global REIT ETF valued at $7.73 million. SEC Filings show Waverly Advisors dumped 54.7% of its 10-20 Year Treasury holdings—one of the steepest declines reported.
Bank of America and Peers Increase Treasury Bets
While some advisers retreated, major institutions doubled down on bonds. Bank of America grew its 0-3 Month Treasury position 13.2% to 12.17 million shares worth $1.23 billion, according to SEC Filings. Cerity Partners was even more aggressive, more than doubling its holdings in the same fund with a 111.8% increase. These moves suggest large banks see value in short-dated treasuries despite rate uncertainty.
First Citizens Makes Massive Treasury Expansion
First Citizens Bank & Trust executed the largest reported increase, expanding its 10-20 Year Treasury Bond ETF stake by 12,382.6% to 942,313 shares worth roughly $94.9 million. SEC Filings indicate this represents a significant long-duration bet by the bank. The move stands in sharp contrast to smaller advisers pulling back from longer-maturity bonds during a period of economic uncertainty.
Treasury Valuations Hover Near Year Lows
The iShares 3-7 Year Treasury Bond ETF was trading at $114.24 when reports were filed, near its one-year low of $114.21. Its 50-day moving average sits at $116.12, and the 200-day average at $117.29, suggesting downward price pressure in longer-maturity treasuries. These technical levels may have influenced decisions by advisers trimming intermediate-bond positions.
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