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The Commissioners approved selling Vanguard’s healthcare-sector ETF and buying an energy-pipeline ETF across four town-related portfolios. The trades involved selling 1,018 shares of VHT and buying 5,312 shares of AMLP, which the minutes say offers a yield of nearly 8%. The Library Trust Funds also approved $510.61 in expenditures.
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The investment change moves fund holdings away from the healthcare sector and toward energy pipelines, which the Commissioners viewed as a better fit amid expected market volatility. The change affects the Main Account, OPEB Retiree Health Care Trust, Library Endowment, and Library Trust Funds. The Commissioners also discussed possible future changes to investment management but did not make that change at this meeting.
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