C2P Capital Advisory Group LLC, operating under the name Prosperity Capital Advisors, has acquired a new stake in the Vanguard Utilities ETF (NYSEARCA:VPU) during the third quarter of 2023. According to the firm’s latest Form 13F filing with the Securities and Exchange Commission (SEC), the institutional investor purchased 2,674 shares valued at approximately $507,000.
In recent months, several other institutional investors have also adjusted their positions in the Vanguard Utilities ETF. Notably, Bank of America Corp DE increased its stake by 5.7% in the second quarter, bringing its total ownership to 974,255 shares, worth approximately $171.97 million. This increase came after the purchase of an additional 52,880 shares during the same period.
Another significant player, Beacon Capital Management Inc., lifted its position in Vanguard Utilities ETF by an impressive 178.2%, now holding 737,018 shares valued at $130.09 million, following the acquisition of 472,113 shares. Similarly, Northwestern Mutual Wealth Management Co. boosted its stake by 5.7% in the second quarter, owning 645,724 shares worth about $113.98 million after adding 34,674 shares.
Ameriprise Financial Inc. also raised its stake by 8.3%, now owning 284,776 shares valued at $50.32 million, after acquiring 21,735 shares. Additionally, Laurel Wealth Advisors LLC made a significant move, increasing its holdings by 39,275.4% to now possess 255,940 shares worth around $45.18 million after buying an additional 255,290 shares.
Vanguard Utilities ETF Performance Overview
As of Monday, Vanguard Utilities ETF shares opened at $187.22. The ETF has experienced a fifty-two week low of $154.00 and a high of $203.15. The fund currently has a market capitalization of $7.64 billion, a price-to-earnings ratio of 20.60, and a beta of 0.61. Its fifty-day moving average price stands at $190.11, while the two-hundred day moving average price is at $186.82.
Vanguard Utilities ETF is part of the Vanguard Utilities Index Fund, which tracks the performance of the Morgan Stanley Capital International United States Investable Market Utilities Index. This index comprises stocks from large, medium, and small U.S. companies within the utilities sector, as defined by the Global Industry Classification Standard (GICS). The sector includes companies classified as electric, gas, or water utilities, as well as independent producers and distributors of power.
As institutional interest in Vanguard Utilities ETF continues to grow, investors are keen to monitor the fund’s performance and the strategic moves of these major stakeholders. For those looking to follow the latest developments, detailed information on holdings and insider trades can be found through financial reporting channels.
