Arrow Investment Advisors’s iShares MSCI USA Value Factor ETF VLUE Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2018 Q2	–	Sell	-226,099	Closed	-$18.5M	–	94
2018 Q1	$18.5M	Sell	226,099 -5,833	-3%	-$478K	5.45%	8
2017 Q4	$19.4M	Buy	+231,932	New	+$19.4M	5.4%	7