Summit Financial Strategies Inc. Lowers Stake in Avantis Emerging Markets Equity ETF $AVEM

Summit Financial Strategies Inc. trimmed its holdings in shares of Avantis Emerging Markets Equity ETF (NYSEARCA:AVEM) by 1.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 859,984 shares of the company’s stock after selling 8,555 shares during the quarter. Avantis Emerging Markets Equity ETF accounts for approximately 5.5% of Summit Financial Strategies Inc.’s investment portfolio, making the stock its 7th biggest position. Summit Financial Strategies Inc.’s holdings in Avantis Emerging Markets Equity ETF were worth $64,593,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Savant Capital LLC lifted its holdings in shares of Avantis Emerging Markets Equity ETF by 0.9% during the second quarter. Savant Capital LLC now owns 17,904,707 shares of the company’s stock valued at $1,227,189,000 after purchasing an additional 157,957 shares in the last quarter. Bank of America Corp DE raised its position in Avantis Emerging Markets Equity ETF by 1,271.2% in the 2nd quarter. Bank of America Corp DE now owns 17,544,658 shares of the company’s stock worth $1,202,511,000 after buying an additional 16,265,184 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Avantis Emerging Markets Equity ETF by 16.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 17,514,256 shares of the company’s stock valued at $1,200,426,000 after acquiring an additional 2,483,487 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in Avantis Emerging Markets Equity ETF by 28.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,062,191 shares of the company’s stock valued at $209,883,000 after acquiring an additional 670,844 shares during the period. Finally, Cerity Partners LLC boosted its stake in shares of Avantis Emerging Markets Equity ETF by 13.9% in the 2nd quarter. Cerity Partners LLC now owns 2,615,107 shares of the company’s stock worth $179,714,000 after buying an additional 319,867 shares during the last quarter.

Avantis Emerging Markets Equity ETF Trading Up 2.4%

AVEM opened at $78.88 on Monday. Avantis Emerging Markets Equity ETF has a 12-month low of $52.52 and a 12-month high of $78.89. The company’s 50 day moving average is $76.83 and its 200 day moving average is $73.68. The company has a market cap of $16.34 billion, a price-to-earnings ratio of 12.66 and a beta of 0.68.

Avantis Emerging Markets Equity ETF Company Profile

The Avantis Emerging Markets Equity ETF (AVEM) is an exchange-traded fund that mostly invests in total market equity. The fund is an actively managed fund that holds emerging-market stocks of all market capitalizations considered favorable on multiple factors. The fund seeks to provide capital appreciation. AVEM was launched on Sep 17, 2019 and is managed by American Century Investments.