iShares Morningstar Mid-Cap ETF (NYSEARCA:IMCB) Hits New 12-Month High – Still a Buy?

iShares Morningstar Mid-Cap ETF (NYSEARCA:IMCB) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $88.74 and last traded at $88.7490, with a volume of 17489 shares. The stock had previously closed at $88.18.

iShares Morningstar Mid-Cap ETF Stock Down 0.3%

The firm’s 50 day simple moving average is $85.88 and its two-hundred day simple moving average is $83.60. The stock has a market capitalization of $1.51 billion, a P/E ratio of 58.62 and a beta of 1.04.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. HighTower Advisors LLC lifted its position in shares of iShares Morningstar Mid-Cap ETF by 3,833.4% during the fourth quarter. HighTower Advisors LLC now owns 1,846,327 shares of the company’s stock valued at $152,747,000 after purchasing an additional 1,799,387 shares in the last quarter. Morgan Stanley increased its stake in iShares Morningstar Mid-Cap ETF by 17.9% in the 4th quarter. Morgan Stanley now owns 1,501,549 shares of the company’s stock valued at $124,223,000 after buying an additional 228,216 shares during the last quarter. Fortitude Financial LLC bought a new position in shares of iShares Morningstar Mid-Cap ETF during the 4th quarter worth approximately $14,450,000. Creative Financial Designs Inc. ADV increased its position in shares of iShares Morningstar Mid-Cap ETF by 2,080.9% during the second quarter. Creative Financial Designs Inc. ADV now owns 153,163 shares of the company’s stock valued at $12,201,000 after acquiring an additional 146,140 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in iShares Morningstar Mid-Cap ETF by 148.4% during the fourth quarter. Wells Fargo & Company MN now owns 204,827 shares of the company’s stock worth $16,945,000 after acquiring an additional 122,352 shares during the period. 22.26% of the stock is owned by institutional investors and hedge funds.

About iShares Morningstar Mid-Cap ETF

The iShares Morningstar Mid-Cap ETF (IMCB) is an exchange-traded fund that is based on the Morningstar US Mid Cap index. The fund tracks a market cap-weighted index consisting of US mid-cap stocks with both growth and value characteristics. IMCB was launched on Jun 28, 2004 and is managed by BlackRock.