iShares Russell Mid-Cap ETF (NYSEARCA:IWR) Sets New 12-Month High – Still a Buy?

Shares of iShares Russell Mid-Cap ETF (NYSEARCA:IWR) reached a new 52-week high during trading on Thursday . The company traded as high as $102.99 and last traded at $102.17, with a volume of 1206628 shares traded. The stock had previously closed at $102.23.

iShares Russell Mid-Cap ETF Stock Performance

The firm has a market cap of $48.65 billion, a price-to-earnings ratio of 21.00 and a beta of 1.06. The stock’s 50 day simple moving average is $99.14 and its 200-day simple moving average is $96.77.

Hedge Funds Weigh In On iShares Russell Mid-Cap ETF

Hedge funds have recently made changes to their positions in the company. Jones Financial Companies Lllp grew its stake in iShares Russell Mid-Cap ETF by 8.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 75,344,008 shares of the company’s stock valued at $7,245,741,000 after purchasing an additional 5,633,614 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new stake in iShares Russell Mid-Cap ETF in the third quarter valued at approximately $285,568,000. Bank of New York Mellon Corp boosted its position in iShares Russell Mid-Cap ETF by 23.5% in the second quarter. Bank of New York Mellon Corp now owns 9,899,322 shares of the company’s stock valued at $910,441,000 after buying an additional 1,880,984 shares during the last quarter. Wells Fargo & Company MN increased its holdings in iShares Russell Mid-Cap ETF by 3.6% in the 4th quarter. Wells Fargo & Company MN now owns 41,686,088 shares of the company’s stock worth $4,013,120,000 after buying an additional 1,438,369 shares during the period. Finally, BNP Paribas Financial Markets raised its position in iShares Russell Mid-Cap ETF by 186.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 764,638 shares of the company’s stock worth $70,324,000 after buying an additional 497,601 shares during the last quarter. 80.16% of the stock is owned by institutional investors and hedge funds.

iShares Russell Mid-Cap ETF Company Profile

iShares Russell Mid-Cap ETF (the Fund), formerly iShares Russell Midcap Index Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance of the Russell Midcap Index (the Index). The Index measures the performance of the mid-capitalization sector of the United States equity market. The Index is a float-adjusted, capitalization-weighted index of the 800 smallest issuers in the Russell 1000 Index. The Index includes equity securities issued by issuers, which range in size between approximately $1.7 billion and $12 billion, though these amounts may change from time to time.