Vanguard Mega Cap ETF (NYSEARCA:MGC) Sets New 12-Month High – Here’s Why

Vanguard Mega Cap ETF (NYSEARCA:MGC)’s share price hit a new 52-week high on Tuesday . The company traded as high as $255.60 and last traded at $255.10, with a volume of 58470 shares trading hands. The stock had previously closed at $254.66.

Vanguard Mega Cap ETF Trading Down 0.7%

The company has a market capitalization of $9.92 billion, a P/E ratio of 26.06 and a beta of 1.01. The stock has a 50 day moving average price of $250.50 and a 200 day moving average price of $241.98.

Institutional Inflows and Outflows

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