Ballast Small/Mid Cap ETF (NYSEARCA:MGMT) Trading Up 0.9% – Still a Buy?

Ballast Small/Mid Cap ETF (NYSEARCA:MGMT) was up 0.9% during trading on Friday . The stock traded as high as $47.65 and last traded at $47.60. Approximately 46,974 shares traded hands during mid-day trading, an increase of 340% from the average daily volume of 10,687 shares. The stock had previously closed at $47.18.

Ballast Small/Mid Cap ETF Stock Performance

The firm has a market cap of $171.36 million, a P/E ratio of 16.95 and a beta of 0.89. The company has a 50 day moving average of $46.63 and a 200 day moving average of $46.23.

Institutional Investors Weigh In On Ballast Small/Mid Cap ETF

Several large investors have recently made changes to their positions in the company. Employees Retirement Fund of the City of Fort Worth acquired a new stake in Ballast Small/Mid Cap ETF in the 3rd quarter worth approximately $2,502,000. Janney Montgomery Scott LLC lifted its holdings in Ballast Small/Mid Cap ETF by 6.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 34,589 shares of the company’s stock worth $1,561,000 after purchasing an additional 2,031 shares during the last quarter. Finally, Miller Global Investments LLC acquired a new stake in Ballast Small/Mid Cap ETF in the 4th quarter worth approximately $710,000.

About Ballast Small/Mid Cap ETF

The Ballast Small\u002FMid Cap ETF (MGMT) is an exchange-traded fund that mostly invests in extended market equity. The fund is an actively-managed fund that aims for positive risk-adjusted returns. MGMT was launched on Dec 2, 2020 and is managed by Ballast.