iShares Morningstar Mid-Cap Value ETF (NASDAQ:IMCV) Hits New 12-Month High – Here’s Why

iShares Morningstar Mid-Cap Value ETF (NASDAQ:IMCV) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $98.54 and last traded at $98.39, with a volume of 5922 shares changing hands. The stock had previously closed at $97.60.

iShares Morningstar Mid-Cap Value ETF Stock Performance

The firm has a market cap of $1.18 billion, a P/E ratio of 16.35 and a beta of 0.86. The firm’s fifty day simple moving average is $93.89 and its 200 day simple moving average is $89.76.

iShares Morningstar Mid-Cap Value ETF Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, June 15th were given a dividend of $0.418 per share. This represents a $1.67 dividend on an annualized basis and a yield of 1.7%. This is a positive change from iShares Morningstar Mid-Cap Value ETF’s previous quarterly dividend of $0.35. The ex-dividend date was Monday, June 15th.

Institutional Trading of iShares Morningstar Mid-Cap Value ETF

Institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. grew its holdings in iShares Morningstar Mid-Cap Value ETF by 3.3% during the 3rd quarter. Raymond James Financial Inc. now owns 409,104 shares of the company’s stock worth $32,872,000 after acquiring an additional 13,194 shares in the last quarter. LPL Financial LLC increased its position in iShares Morningstar Mid-Cap Value ETF by 22.1% during the 4th quarter. LPL Financial LLC now owns 338,792 shares of the company’s stock valued at $27,895,000 after buying an additional 61,366 shares in the last quarter. Commonwealth Equity Services LLC raised its position in shares of iShares Morningstar Mid-Cap Value ETF by 7.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 291,826 shares of the company’s stock valued at $24,028,000 after purchasing an additional 19,595 shares during the last quarter. Wells Fargo & Company MN boosted its stake in iShares Morningstar Mid-Cap Value ETF by 19.4% in the 4th quarter. Wells Fargo & Company MN now owns 261,282 shares of the company’s stock worth $21,514,000 after purchasing an additional 42,544 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of iShares Morningstar Mid-Cap Value ETF by 3.9% in the third quarter. Bank of America Corp DE now owns 228,185 shares of the company’s stock worth $18,335,000 after buying an additional 8,581 shares during the last quarter.

iShares Morningstar Mid-Cap Value ETF Company Profile

The iShares Morningstar Mid-Cap Value ETF (IMCV) is an exchange-traded fund that is based on the Morningstar US Mid Cap Broad Value index. The fund tracks a market cap-weighted index of US mid-cap stocks companies selected based on their value characteristics. IMCV was launched on Jun 28, 2004 and is managed by BlackRock.