Vanguard Mega Cap ETF (NYSEARCA:MGC) Hits New 12-Month High – Still a Buy?

Vanguard Mega Cap ETF (NYSEARCA:MGC) shares hit a new 52-week high during trading on Friday . The company traded as high as $254.68 and last traded at $254.1640, with a volume of 7217 shares. The stock had previously closed at $254.09.

Vanguard Mega Cap ETF Trading Up 0.0%

The company has a market cap of $8.90 billion, a price-to-earnings ratio of 26.06 and a beta of 1.01. The stock’s 50 day moving average price is $249.42 and its 200 day moving average price is $238.51.

Institutional Investors Weigh In On Vanguard Mega Cap ETF

Several hedge funds and other institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its holdings in Vanguard Mega Cap ETF by 99.2% during the third quarter. Envestnet Asset Management Inc. now owns 1,720,955 shares of the company’s stock worth $420,068,000 after buying an additional 857,073 shares in the last quarter. Orion Porfolio Solutions LLC grew its position in Vanguard Mega Cap ETF by 577.3% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 1,045,381 shares of the company’s stock worth $235,127,000 after acquiring an additional 891,030 shares during the last quarter. New York Life Investment Management LLC lifted its holdings in shares of Vanguard Mega Cap ETF by 23.4% during the 3rd quarter. New York Life Investment Management LLC now owns 711,400 shares of the company’s stock valued at $173,646,000 after purchasing an additional 134,789 shares in the last quarter. Vantagepoint Investment Advisers LLC bought a new stake in Vanguard Mega Cap ETF in the 3rd quarter valued at $161,189,000. Finally, Leavell Investment Management Inc. raised its stake in shares of Vanguard Mega Cap ETF by 1.5% during the third quarter. Leavell Investment Management Inc. now owns 501,734 shares of the company’s stock valued at $122,759,000 after acquiring an additional 7,571 shares during the last quarter.

About Vanguard Mega Cap ETF

The Vanguard Mega Cap ETF (MGC) is an exchange-traded fund that is based on the CRSP US Mega Cap index, a market-cap-weighted index that covers 70% of the market capitalization of the US equity market. MGC was launched on Dec 24, 2007 and is managed by Vanguard.