Creative Planning, a financial planning and investment management firm, has disclosed a decrease in its stake in the ETFMG Prime Cyber Security ETF (NYSEARCA:HACK) during the 4th quarter, according to its recent filing with the Securities and Exchange Commission (SEC). The firm sold 1,386 shares, representing an 8.9% reduction in its holdings. As of the filing, Creative Planning owned 14,177 shares of the ETF, valued at approximately $625,000.Investment Activity of Institutional Investors:In addition to Creative Planning, other institutional investors have also made changes to their positions in the ETFMG Prime Cyber Security ETF. Hollencrest Capital Management acquired a new position during the 4th quarter, adding to the growing interest in the ETF. CoreCap Advisors LLC and EPG Wealth Management LLC also initiated new positions in the ETF during the same period. Guardian Wealth Advisors LLC and Simplex Trading LLC joined the list of institutional investors, highlighting the increasing attraction towards the cybersecurity sector.Market Performance of ETFMG Prime Cyber Security ETF:ETFMG Prime Cyber Security ETF, traded on the NYSEARCA under the ticker symbol HACK, experienced a 0.8% increase in its trading value. On Friday, the stock opened at $48.93. It has a 50-day moving average of $46.97 and a 200-day moving average of $46.00. The ETF’s 12-month low stands at $40.65, while its 12-month high reached $51.76. With a market capitalization of $1.47 billion, ETFMG Prime Cyber Security ETF offers investors exposure to the cybersecurity industry.Analysis:Creative Planning’s decision to reduce its stake in the ETFMG Prime Cyber Security ETF suggests a change in its investment strategy or a reallocation of assets. While the specific reasons behind the sale are not provided in the filing, it is important to note that the firm still retains a significant number of shares in the ETF, indicating some continued interest in the cybersecurity sector.The addition of new positions by other institutional investors demonstrates the growing attractiveness of the ETFMG Prime Cyber Security ETF. Hollencrest Capital Management, CoreCap Advisors LLC, EPG Wealth Management LLC, Guardian Wealth Advisors LLC, and Simplex Trading LLC have all recognized the potential of the cybersecurity industry and are positioning themselves to capitalize on its growth.The performance of the ETFMG Prime Cyber Security ETF has shown modest gains, with a recent uptick in its trading value. This indicates positive market sentiment and potential investor confidence in the cybersecurity sector. The ETF’s price-to-earnings ratio of 23.57 and beta of 0.93 suggest a relatively stable investment option within the cybersecurity space.Conclusion:Creative Planning has reduced its stake in the ETFMG Prime Cyber Security ETF, as indicated by its recent SEC filing. This move reflects a change in the firm’s investment strategy or asset allocation. However, other institutional investors have shown interest by initiating new positions in the ETF, suggesting a growing attraction to the cybersecurity sector. The ETF’s recent trading performance has been positive, with a slight increase in its value. The combination of market activity and investor interest points to the continued relevance and potential for growth in the cybersecurity industry.
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October 20, 2023
October 20, 2023