iShares S&P 500 BuyWrite ETF (NYSEARCA:IVVW) Trading Down 0.7% – Here’s What Happened

iShares S&P 500 BuyWrite ETF (NYSEARCA:IVVW)’s share price traded down 0.7% during trading on Tuesday . The company traded as low as $49.60 and last traded at $49.77. 4,874 shares changed hands during trading, a decline of 30% from the average session volume of 6,972 shares. The stock had previously closed at $50.14.

iShares S&P 500 BuyWrite ETF Trading Down 0.7 %

The business has a 50-day simple moving average of $49.90 and a two-hundred day simple moving average of $49.72.

Hedge Funds Weigh In On iShares S&P 500 BuyWrite ETF

Several institutional investors and hedge funds have recently modified their holdings of the stock. Cetera Investment Advisers bought a new position in shares of iShares S&P 500 BuyWrite ETF during the second quarter worth approximately $1,338,000. Granite Bay Wealth Management LLC acquired a new stake in iShares S&P 500 BuyWrite ETF in the fourth quarter valued at approximately $1,003,000. Alaska Wealth Advisors bought a new stake in iShares S&P 500 BuyWrite ETF during the 3rd quarter worth $194,000. Finally, Alaska Permanent Capital Management acquired a new position in shares of iShares S&P 500 BuyWrite ETF in the third quarter valued at approximately $122,000.

About iShares S&P 500 BuyWrite ETF

The iShares S&P 500 BuyWrite ETF (IVVW) is an exchange-traded fund that mostly invests in large cap equity. The fund is passively managed, aiming to participate in the price movement of US large-cap stocks, up to a certain cap, while also providing enhanced monthly income through a covered call option writing strategy.