The fourth quarter saw a flurry of activity as institutional investors adjusted their portfolios, making strategic moves in various companies. Several firms, including IFP Advisors Inc, Truist Financial Corp, and the New York State Common Retirement Fund, made notable changes to their holdings.
IFP Advisors Inc's Strategic Moves
IFP Advisors Inc made significant adjustments in Q4. The firm increased its stake in ARK Fintech Innovation ETF (NYSEARCA:ARKF) by 10.2%, acquiring an additional 323 shares to bring their total holding to 3,483 shares. This demonstrates a continued interest in the fintech sector.
In another move, IFP Advisors Inc also increased its position in DT Midstream, Inc. (NYSE:DTM). According to their most recent Form 13F filing with the SEC, the firm lifted its stake by 37.8%, purchasing an additional 345 shares, bringing their total to 1,257 shares.
Truist Financial Corp's Portfolio Adjustments
Truist Financial Corp was also active in the market during the fourth quarter. The firm raised its position in shares of Organon & Co. (NYSE:OGN) by a substantial 57.3%, according to Holdings Channel reports. This translates to an additional 8,827 shares, bringing their total holdings to 24,237 shares, worth approximately $362,000.
However, Truist Financial Corp wasn't only buying; the firm also trimmed its stake in CGI Inc. (NYSE:GIB) (TSE:GIB.A) by 8.1%. Holdings Channel.com reports that Truist Financial Corp sold 277 shares, leaving them with 3,136 shares of the technology company, valued at $343,000.
New York State Common Retirement Fund Invests in Globalstar
The New York State Common Retirement Fund also made a notable move, increasing its holdings in Globalstar, Inc. (NYSEARCA:GSAT) by 46.1% during the fourth quarter, as reported by Holdings Channel.com. This translates to an acquisition of 71,400 additional shares, bringing their total holdings to 226,209 shares.
U.S. Steel: Buy, Sell, or Hold?
While not directly related to Q4 portfolio adjustments, the situation surrounding United States Steel (NYSE: X) is worth noting. The company, an iconic name in the steel industry, has agreed to be bought by Japan's Nippon Steel for $55 per share. However, the stock is currently trading around $38 per share. This discrepancy presents a unique opportunity for investors, as noted by analysts. Is it a buy, sell, or hold?
"That's the reason to buy U.S. Steel today," notes one analyst, highlighting the potential upside if the acquisition proceeds as planned.
These shifts in institutional investor holdings provide valuable insights into market trends and investor sentiment, offering clues for both seasoned and novice investors alike.
