Cannon Financial Strategists Inc. Takes $18.27 Million Position in SPDR Portfolio TIPS ETF (NYSEARCA:SPIP)

Cannon Financial Strategists Inc. bought a new stake in shares of SPDR Portfolio TIPS ETF (NYSEARCA:SPIP) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 718,719 shares of the company’s stock, valued at approximately $18,270,000. SPDR Portfolio TIPS ETF makes up 3.5% of Cannon Financial Strategists Inc.’s portfolio, making the stock its 8th largest position. Cannon Financial Strategists Inc. owned about 1.45% of SPDR Portfolio TIPS ETF at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. 1620 Investment Advisors Inc. acquired a new position in SPDR Portfolio TIPS ETF in the second quarter valued at about $26,000. Farmers & Merchants Investments Inc. acquired a new position in SPDR Portfolio TIPS ETF in the second quarter valued at about $31,000. Vima LLC acquired a new position in SPDR Portfolio TIPS ETF in the fourth quarter valued at about $39,000. Transcendent Capital Group LLC acquired a new position in SPDR Portfolio TIPS ETF in the fourth quarter valued at about $61,000. Finally, B. Riley Wealth Advisors Inc. bought a new position in shares of SPDR Portfolio TIPS ETF in the first quarter worth about $205,000.

SPDR Portfolio TIPS ETF Stock Up 0.4 %

Shares of NYSEARCA SPIP opened at $26.34 on Wednesday. SPDR Portfolio TIPS ETF has a 1-year low of $24.33 and a 1-year high of $26.43. The company has a 50-day moving average of $25.97 and a two-hundred day moving average of $25.59.

SPDR Portfolio TIPS ETF Company Profile

The SPDR Portfolio TIPS ETF (SPIP) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund tracks a market-value-weighted index of inflation-protected US Treasurys with a remaining maturity of at least one year. SPIP was launched on May 25, 2007 and is managed by State Street.