Synergy Asset Management LLC has significantly increased its investment in the iShares 0-3 Month Treasury Bond ETF (NYSEARCA:SGOV) by an impressive 287.0% during the third quarter of 2023. According to the firm’s recent Form 13F filing with the U.S. Securities and Exchange Commission, the asset manager now holds 1,704,567 shares after acquiring an additional 1,264,139 shares during the quarter. This stock now constitutes approximately 6.1% of Synergy Asset Management’s total holdings, making it the firm’s fourth largest investment.
At the end of the reporting period, Synergy Asset Management’s stake in the iShares 0-3 Month Treasury Bond ETF was valued at around $171,641,000, indicating a strong belief in the fund’s performance. The ETF primarily invests in high-quality fixed-income assets, tracking U.S. Treasurys that mature in three months or less, and is managed by BlackRock, having launched on May 26, 2020.
Several other institutional investors have also adjusted their positions in SGOV. For instance, Weaver Consulting Group increased its stake by 2.7% during the second quarter, now owning 3,880 shares valued at $391,000. Meanwhile, 4WEALTH Advisors Inc. raised its position by 0.6%, bringing its total to 18,957 shares worth $1,909,000 after acquiring an additional 107 shares.
Furthermore, EverSource Wealth Advisors LLC lifted its holdings by 0.8%, now owning 15,774 shares valued at $1,588,000. Similarly, Rossby Financial LLC expanded its stake by 15.2%, resulting in ownership of 1,158 shares worth $117,000. Lastly, Chicago Partners Investment Group LLC increased its investment by 3.5%, owning 5,114 shares valued at $515,000.
The iShares 0-3 Month Treasury Bond ETF has recently seen a slight fluctuation in its market performance, opening at $100.41 on Friday. Over the past year, the fund has recorded a low of $100.27 and a high of $100.74. The current 50-day moving average stands at $100.49, while the 200-day moving average is at $100.53.
As interest in short-term fixed-income investments continues to grow, the activities of firms like Synergy Asset Management and others highlight a strategic shift towards stability in an uncertain economic landscape. Investors are closely monitoring these developments as they navigate the complexities of market conditions and potential interest rate changes.
