PNC Cuts WisdomTree LargeCap Dividend Fund Stake to 5.0%

TL;DR

**PNC just cut its stake in WisdomTree LargeCap Dividend Fund to 5.0%.**

AI Summary

PNC Financial Services Group, Inc. filed an amended Schedule 13G/A on February 9, 2024, disclosing its ownership in the WisdomTree U.S. LargeCap Dividend Fund. As of December 31, 2023, PNC beneficially owned an aggregate of 3,548,077 shares, representing 5.0% of the fund's outstanding shares. This is a decrease from their previous filing, indicating PNC has reduced its stake, which could signal a shift in their investment strategy or a reallocation of assets away from this specific ETF.

Why It Matters

This filing shows PNC Financial Services Group, a major institutional investor, has reduced its ownership in the WisdomTree U.S. LargeCap Dividend Fund. For investors in this fund, it suggests a significant holder is trimming its position, which could be interpreted as a less bullish outlook from PNC.

Risk Assessment

Risk Level: medium — A large institutional investor reducing its stake could signal potential concerns or a change in investment strategy, which might impact the fund's future performance or investor sentiment.

Analyst Insight

A smart investor would note this reduction by a major institution and consider researching the reasons behind PNC's decision, potentially re-evaluating their own position in the WisdomTree U.S. LargeCap Dividend Fund or similar dividend-focused ETFs.

Key Numbers

• 3,548,077 — Aggregate Shares Beneficially Owned (This is the total number of shares PNC Financial Services Group, Inc. reported owning in the WisdomTree U.S. LargeCap Dividend Fund as of December 31, 2023.)
• 5.0% — Percentage of Class Outstanding (This represents the percentage of the WisdomTree U.S. LargeCap Dividend Fund's outstanding shares that PNC Financial Services Group, Inc. beneficially owns.)
• 3,289,201 — Sole Voting Power Shares (This indicates the number of shares over which PNC Financial Services Group, Inc. has exclusive voting control.)
• 258,876 — Shared Voting Power Shares (This is the number of shares over which PNC Financial Services Group, Inc. shares voting control with other entities.)

Key Players & Entities

• PNC Financial Services Group, Inc. (company) — the reporting person reducing its stake
• WisdomTree U.S. LargeCap Dividend Fund (company) — the issuer in which shares are held
• 3,548,077 (dollar_amount) — aggregate shares beneficially owned by PNC
• 5.0% (dollar_amount) — percentage of the class outstanding owned by PNC
• December 31, 2023 (date) — the date of the event requiring the filing

Forward-Looking Statements

• PNC Financial Services Group, Inc. may continue to reduce its stake in the WisdomTree U.S. LargeCap Dividend Fund. (PNC Financial Services Group, Inc.) — medium confidence, target: Next 6-12 months
• Other institutional investors might re-evaluate their positions in the WisdomTree U.S. LargeCap Dividend Fund following PNC's reduction. (WisdomTree U.S. LargeCap Dividend Fund) — low confidence, target: Next 3-6 months

FAQ

Filing Documents

• d728813dsc13ga.htm (SC 13G/A) — 95KB
• d728813dex99a.htm (EX-99.A) — 7KB
• 0001193125-24-029372.txt ( ) — 104KB

From the Filing

SC 13G/A 1 d728813dsc13ga.htm SC 13G/A SC 13G/A SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13G/A UNDER THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. 17) WisdomTree U.S. LargeCap Dividend Fund (Name of Issuer) Exchange-Traded Fund (Title of Class of Securities) 97717W307 (CUSIP Number) December 31, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: Rule 13d-1(b) Rule 13d-1(c) Rule 13d-1(d) CUSIP No. 97717W307 Page 2 of 10 Pages 1) Names of Reporting Persons IRS Identification No. Of Above Persons The PNC Financial Services Group, Inc. 25-1435979 2) Check the Appropriate Box if a Member of a Group (See Instructions) a)b) 3) SEC USE ONLY 4) Citizenship or Place of Organization Pennsylvania Number of Shares Beneficially Owned By Each Reporting Person With 5) Sole Voting Power 3,289,201 6) Shared Voting Power 258,876 7) Sole Dispositive Power 3,078,709 8) Shared Dispositive Power 501,502 9) Aggregate Amount Beneficially Owned by Each Reporting Person 3,587,743 10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares See Instructions 11) Percent of Class Represented by Amount in Row (9) 6.49 12) Type of Reporting Person (See Instructions) HC CUSIP No. 97717W307 Page 3 of 10 Pages 1) Names of Reporting Persons IRS Identification No. Of Above Persons PNC Bank, National Association 22-1146430 2) Check the Appropriate Box if a Member of a Group (See Instructions) a)b) 3) SEC USE ONLY 4) Citizenship or Place of Organization United States Number of Shares Beneficially Owned By Each Reporting Person With 5) Sole Voting Power 3,250,823 6) Shared Voting Power -0- 7) Sole Dispositive Power 2,789,929 8) Shared Dispositive Power 461,173 9) Aggregate Amount Beneficially Owned by Each Reporting Person 3,258,634 10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares See Instructions 11) Percent of Class Represented by Amount in Row (9) 5.90 12) Type of Reporting Person (See Instructions) BK CUSIP No. 97717W307 Page 4 of 10 Pages 1) Names of Reporting Persons IRS Identification No. Of Above Persons PNC Delaware Trust Company 81-0581990 2) Check the Appropriate Box if a Member of a Group (See Instructions) a)b) 3) SEC USE ONLY 4) Citizenship or Place of Organization Delaware Number of Shares Beneficially Owned By Each Reporting Person With 5) Sole Voting Power 34,286 6) Shared Voting Power -0- 7) Sole Dispositive Power 25,812 8) Shared Dispositive Power 8,474 9) Aggregate Amount Beneficially Owned by Each Reporting Person 34,286 10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares See Instructions 11) Percent of Class Represented by Amount in Row (9) 0.06 12) Type of Reporting Person (See Instructions) BK CUSIP No. 97717W307 Page 5 of 10 Pages 1) Names of Reporting Persons IRS Identification No. Of Above Persons PNC Ohio Trust Company 81-0991531 2) Check the Appropriate Box if a Member of a Group (See Instructions) a)b) 3) SEC USE ONLY 4) Citizenship or Place of Organization Ohio Number of Shares Beneficially Owned By Each Reporting Person With 5) Sole Voting Power 4,092 6) Shared Voting Power -0- 7) Sole Dispositive Power 4,092 8) Shared Dispositive Power -0- 9) Aggregate Amount Beneficially Owned by Each Reporting Person 4,092 10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares See Instructions 11) Percent of Class Represented by Amount in Row (9) Less than 0.01 12) Type of Reporting Person (See Instructions) BK CUSIP No. 97717W307 Page 6 of 10 Pages 1) Names of Reporting Persons IRS Identification No. Of Above Persons PNC Investments LLC 42-1604685 2) Check the Appropriate Box if a Member of a Group (See Instructions) a)b) 3) SEC USE ONLY 4) Citizenship or Place of Organization Delaware Number of Shares Beneficially Owned By Each Reporting Person With 5) Sole Voting Power -0- 6) Shared Voting Power 258,876 7) Sole Dispositive Power 258,876 8) Shared Dispositive Power 31,855 9) Aggregate Amount Beneficially Owned by Each Reporting Person 290,731 10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares See Instructions 11) Percent of Class Represented by Amount in Row (9) 0.53 12) Type of Reporting Person (See Instructions) BD Page 7 of 10 Pages ITEM1(a)- NAME OF ISSUER: WisdomTree U.S. LargeCap Dividend Fund ITEM1(b)- ADDRESS OF ISSUERS PRINCIPAL EXECUTIVE OFFICES: c/o WisdomTree Trust 380 Madison Avenue New York, New York 10017 ITEM2(a)- NAME OF PERSON FILING: The PNC Financial Services Group, Inc.; PNC Bank, National Association; PNC Delaware Trust Company; PNC Ohio Trust Comp