Shah Wealth Advisors LLC Makes New Investment in iShares MSCI USA Momentum Factor ETF $MTUM

Shah Wealth Advisors LLC bought a new position in iShares MSCI USA Momentum Factor ETF (BATS:MTUM) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 48,732 shares of the company’s stock, valued at approximately $16,707,000. iShares MSCI USA Momentum Factor ETF comprises approximately 3.9% of Shah Wealth Advisors LLC’s portfolio, making the stock its 10th biggest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bison Wealth LLC boosted its position in shares of iShares MSCI USA Momentum Factor ETF by 4.4% during the fourth quarter. Bison Wealth LLC now owns 3,148 shares of the company’s stock valued at $651,000 after purchasing an additional 133 shares in the last quarter. Empowered Funds LLC bought a new position in iShares MSCI USA Momentum Factor ETF in the first quarter worth $2,488,000. Russell Investments Group Ltd. lifted its position in iShares MSCI USA Momentum Factor ETF by 15.1% during the second quarter. Russell Investments Group Ltd. now owns 973 shares of the company’s stock valued at $234,000 after buying an additional 128 shares during the period. First Trust Advisors LP purchased a new position in iShares MSCI USA Momentum Factor ETF during the second quarter valued at $350,000. Finally, Qube Research & Technologies Ltd boosted its holdings in shares of iShares MSCI USA Momentum Factor ETF by 543.9% during the 2nd quarter. Qube Research & Technologies Ltd now owns 127,461 shares of the company’s stock valued at $30,631,000 after buying an additional 107,665 shares in the last quarter.

iShares MSCI USA Momentum Factor ETF Price Performance

BATS:MTUM opened at $304.86 on Friday. The firm’s 50-day moving average price is $309.56 and its 200-day moving average price is $290.44. The company has a market capitalization of $22.25 billion, a PE ratio of 28.67 and a beta of 1.02. iShares MSCI USA Momentum Factor ETF has a 1-year low of $229.42 and a 1-year high of $345.59.

iShares MSCI USA Momentum Factor ETF Company Profile

The iShares MSCI USA Momentum Factor ETF (MTUM) is an exchange-traded fund that is based on the MSCI USA Momentum SR Variant index. The fund tracks an index of large- and mid-cap US equities, selected and weighted based on price appreciation over 6- and 12-month periods and low volatility over the past 3 years. MTUM was launched on Apr 16, 2013 and is managed by BlackRock.