This Hedge Funder With Over $197B Under Management Just Increased His Stake In 2 High Yielding ETFs
Ken Fisher founded Fisher Asset Management in 1979, and now has north of $197 billion in assets under management, with more than 100,000 clients around the world. Fisher Asset Management is a fee-only investment adviser and money management firm serving large institutions, high-net-worth individuals, and small business retirement plans globally.
Fisher is currently the executive chairman and co-CIO, after stepping down from the role of CEO, a position he held for 37 years. Additionally, Fisher began writing a monthly column for Forbes in 1984, around the same time his bestselling book "Super Stocks" gained massive attention. Fisher wrote the "Forbes Portfolio Strategy" column for over 32 years until Dec. 31, 2016, making him the longest-running columnist in Forbes’ history.
Fisher is buying these two high-yielding exchange traded funds (ETFs) as we head into the end of the year.
iShares iBoxx $ Investment Grade Corporate Bond ETF (NYSE:LQD) is offering a dividend yield of 3.13% or $3.40 per share annually, conducting monthly payments, with an inconsistent track record of increasing its dividends. The iShares iBoxx Investment Grade Corporate Bond ETF seeks to track the investment results of an index composed of U.S. Dollar-denominated, investment-grade corporate bonds. The ETF gives you access to over 1,000 corporate bonds in a single fund, and its top three holdings include JPMorgan Chase (NYSE:JPM), Bank of America (NYSE:BAC), and Goldman Sachs Group (NYSE:GS).
In the third quarter, Fisher increased its stake in the iShares iBoxx Investment Grade Corporate Bond ETF by roughly 41% to over 22 million shares.
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iShares MSCI Europe Financials Sector Index Fund (NASDAQ:EUFN) is offering a forward dividend yield of 7.61% or $1.34 per share annually, through semiannual payments, with a track record of increasing its dividends once in the past year. The iShares MSCI Europe Financials Sector Index Fund seeks to track the investment results of an index composed of developed market European equities in the financials sector. The ETF’s top three holdings include HSBC Holdings (NYSE:HSBC), Allianz (OTCPK: ALIZF), and Zurich Insurance Group (OTCQX:ZFSVF).
Fisher increased its stake in the iShares MSCI Europe Financials Sector Index Fund by 125% to over 39.2 million shares during the third quarter.