Redstone Wealth Management LLC Makes New Investment in iShares Semiconductor ETF $SOXX

Redstone Wealth Management LLC purchased a new position in shares of iShares Semiconductor ETF (NASDAQ:SOXX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 54,372 shares of the exchange traded fund’s stock, valued at approximately $16,374,000. iShares Semiconductor ETF accounts for approximately 12.9% of Redstone Wealth Management LLC’s investment portfolio, making the stock its 2nd largest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Citizens Financial Group Inc. RI lifted its stake in iShares Semiconductor ETF by 2.0% during the fourth quarter. Citizens Financial Group Inc. RI now owns 1,615 shares of the exchange traded fund’s stock worth $486,000 after purchasing an additional 31 shares during the period. Stratos Wealth Advisors LLC lifted its stake in iShares Semiconductor ETF by 1.7% during the third quarter. Stratos Wealth Advisors LLC now owns 2,135 shares of the exchange traded fund’s stock worth $579,000 after purchasing an additional 36 shares during the period. Rinkey Investments lifted its stake in iShares Semiconductor ETF by 2.3% during the fourth quarter. Rinkey Investments now owns 1,571 shares of the exchange traded fund’s stock worth $473,000 after purchasing an additional 36 shares during the period. First Heartland Consultants Inc. lifted its stake in iShares Semiconductor ETF by 1.1% during the fourth quarter. First Heartland Consultants Inc. now owns 3,295 shares of the exchange traded fund’s stock worth $992,000 after purchasing an additional 37 shares during the period. Finally, Secure Asset Management LLC lifted its stake in iShares Semiconductor ETF by 4.6% during the fourth quarter. Secure Asset Management LLC now owns 871 shares of the exchange traded fund’s stock worth $262,000 after purchasing an additional 38 shares during the period.

iShares Semiconductor ETF Stock Performance

NASDAQ SOXX opened at $537.33 on Monday. The firm has a market cap of $34.82 billion, a price-to-earnings ratio of 31.84 and a beta of 1.75. The company has a 50 day moving average of $413.97 and a 200-day moving average of $354.50. iShares Semiconductor ETF has a 1-year low of $199.93 and a 1-year high of $541.89.

iShares Semiconductor ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Tuesday, March 17th were issued a dividend of $0.2079 per share. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $0.83 annualized dividend and a dividend yield of 0.2%.

iShares Semiconductor ETF Profile

iShares PHLX Semiconductor ETF, formerly iShares PHLX SOX Semiconductor Sector Index Fund (the Fund), is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the United States-listed semiconductor stocks as represented by the PHLX Semiconductor Sector Index (the Index). The Index is an equity benchmark for the United States-listed semiconductor stocks. The Index includes companies primarily involved in the design, distribution, manufacture and sale of semiconductors.