Institutional investors adjusted holdings in major ETFs, with notable changes in S&P-related funds.

Investment firms have been adjusting their holdings in major ETFs. Fountainhead AM LLC holds $23 million in the iShares Core S&P 500 ETF (IVV), reducing its shares by 4.7% in the first quarter. Conservest Capital Advisors Inc. increased its holdings in the iShares Core S&P Mid-Cap ETF (IJH) by 30.4%, while STAR Financial Bank reduced its holdings in the iShares S&P Mid-Cap 400 Growth ETF (IJK) by 38%. Institutional investors own 70.12% of IVV, which has a market cap of $635.37 billion and a P/E ratio of 25.10.