C2P Capital Advisory Group LLC, operating under the name Prosperity Capital Advisors, has acquired a stake in the Vanguard Utilities ETF (NYSEARCA:VPU). According to a recent filing with the Securities and Exchange Commission (SEC), the institutional investor purchased 2,674 shares valued at approximately $507,000 during the third quarter of the year.
This acquisition comes as other institutional investors have also adjusted their holdings in the Vanguard Utilities ETF, which is designed to track the performance of the utilities sector in the United States. Notably, Bank of America Corp DE increased its stake in the ETF by 5.7% during the second quarter, now owning 974,255 shares worth $171,966,000 after adding 52,880 shares to its portfolio.
Another significant player, Beacon Capital Management Inc., raised its position by an impressive 178.2% in the same quarter. The firm now holds 737,018 shares valued at $130,091,000 following a purchase of 472,113 additional shares.
Furthermore, Northwestern Mutual Wealth Management Co. boosted its stake by 5.7%, now owning 645,724 shares worth $113,977,000 after acquiring 34,674 shares. Ameriprise Financial Inc. also increased its holdings by 8.3%, bringing its total to 284,776 shares valued at $50,315,000. Additionally, Laurel Wealth Advisors LLC significantly expanded its investment by 39,275.4%, acquiring 255,940 shares worth $45,176,000 after purchasing 255,290 shares.
Current Performance of Vanguard Utilities ETF
As of Monday, shares of Vanguard Utilities ETF opened at $187.22. The ETF has experienced a fifty-two week low of $154.00 and a high of $203.15. With a market capitalization of $7.64 billion, the ETF maintains a price-to-earnings ratio of 20.60 and a beta of 0.61. The 50-day moving average price is $190.11, while the 200-day moving average stands at $186.82.
The Vanguard Utilities ETF is part of the Vanguard Utilities Index Fund, designed to track the performance of the Morgan Stanley Capital International United States Investable Market Utilities Index. This index encompasses large, medium-sized, and small companies within the utilities sector, classified under the Global Industry Classification Standard (GICS). These companies include electric, gas, and water utilities, as well as independent producers and distributors of power.
With multiple institutional investors showing interest, the Vanguard Utilities ETF continues to be a focal point for those seeking exposure to the utilities sector. For further information on institutional holdings and recent trades, investors can visit HoldingsChannel.com to access the latest Form 13F filings.
