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 reached a new 52-week high during trading on Wednesday . The stock traded as high as $92.46 and last traded at $92.43, with a volume of 9661 shares trading hands. The stock had previously closed at $91.38.

iShares Morningstar Mid-Cap Value ETF Stock Performance

The business has a 50-day simple moving average of $89.62 and a two-hundred day simple moving average of $87.00. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 16.35 and a beta of 0.86.

iShares Morningstar Mid-Cap Value ETF Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 15th were paid a dividend of $0.418 per share. The ex-dividend date was Monday, June 15th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 1.8%. This is a positive change from iShares Morningstar Mid-Cap Value ETF’s previous quarterly dividend of $0.35.

Hedge Funds Weigh In On iShares Morningstar Mid-Cap Value ETF

Several hedge funds and other institutional investors have recently made changes to their positions in IMCV. International Assets Investment Management LLC acquired a new position in shares of iShares Morningstar Mid-Cap Value ETF during the 1st quarter worth about $26,000. Russell Investments Group Ltd. increased its holdings in shares of iShares Morningstar Mid-Cap Value ETF by 394.4% during the 4th quarter. Russell Investments Group Ltd. now owns 351 shares of the company’s stock worth $29,000 after acquiring an additional 280 shares during the last quarter. Godfrey Financial Associates Inc. bought a new stake in iShares Morningstar Mid-Cap Value ETF in the 4th quarter valued at $34,000. Wealth Watch Advisors INC bought a new stake in iShares Morningstar Mid-Cap Value ETF in the 3rd quarter valued at $35,000. Finally, Bessemer Group Inc. acquired a new stake in iShares Morningstar Mid-Cap Value ETF during the 1st quarter valued at $53,000.

About iShares Morningstar Mid-Cap Value ETF

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.