Avantis Emerging Markets Equity ETF $AVEM Shares Sold by Summit Financial Strategies Inc.

Summit Financial Strategies Inc. cut its stake in Avantis Emerging Markets Equity ETF (NYSEARCA:AVEM) by 5.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 785,029 shares of the company’s stock after selling 44,312 shares during the quarter. Avantis Emerging Markets Equity ETF accounts for about 5.3% of Summit Financial Strategies Inc.’s portfolio, making the stock its 7th largest position. Summit Financial Strategies Inc.’s holdings in Avantis Emerging Markets Equity ETF were worth $75,747,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of AVEM. AQR Capital Management LLC lifted its position in Avantis Emerging Markets Equity ETF by 13.2% during the 1st quarter. AQR Capital Management LLC now owns 22,204 shares of the company’s stock worth $1,336,000 after acquiring an additional 2,596 shares in the last quarter. M&T Bank Corp acquired a new stake in Avantis Emerging Markets Equity ETF in the second quarter valued at approximately $287,000. Diversify Advisory Services LLC acquired a new stake in Avantis Emerging Markets Equity ETF in the second quarter valued at approximately $478,000. Diversify Wealth Management LLC raised its stake in shares of Avantis Emerging Markets Equity ETF by 20.3% during the second quarter. Diversify Wealth Management LLC now owns 13,280 shares of the company’s stock valued at $946,000 after purchasing an additional 2,244 shares during the period. Finally, Quantinno Capital Management LP raised its stake in shares of Avantis Emerging Markets Equity ETF by 74.1% during the second quarter. Quantinno Capital Management LP now owns 14,735 shares of the company’s stock valued at $1,010,000 after purchasing an additional 6,271 shares during the period.

Avantis Emerging Markets Equity ETF Trading Down 0.6%

Shares of AVEM stock opened at $96.20 on Wednesday. The company has a market capitalization of $27.38 billion, a PE ratio of 12.66 and a beta of 0.75. The firm has a fifty day simple moving average of $92.60 and a 200-day simple moving average of $90.51. Avantis Emerging Markets Equity ETF has a twelve month low of $72.94 and a twelve month high of $100.83.

About Avantis Emerging Markets Equity ETF

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.