iShares Morningstar Mid-Cap Value ETF (NASDAQ:IMCV) Sees Strong Trading Volume – Here’s Why

iShares Morningstar Mid-Cap Value ETF (NASDAQ:IMCV) saw strong trading volume on Wednesday. Approximately 175,311 shares were traded during trading, an increase of 559% from the previous session’s volume of 26,612 shares. The stock last traded at $93.0760 and had previously closed at $93.55.

iShares Morningstar Mid-Cap Value ETF Stock Performance

The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 16.35 and a beta of 0.87. The business has a fifty day moving average price of $95.96 and a 200 day moving average price of $91.81.

iShares Morningstar Mid-Cap Value ETF Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Tuesday, September 15th were paid a $0.5179 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $2.07 annualized dividend and a dividend yield of 2.2%. This is an increase from iShares Morningstar Mid-Cap Value ETF’s previous quarterly dividend of $0.4180.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC acquired a new stake in shares of iShares Morningstar Mid-Cap Value ETF in the first quarter worth $26,000. Bessemer Group Inc. purchased a new stake in shares of iShares Morningstar Mid-Cap Value ETF during the 1st quarter valued at about $53,000. Western Wealth Management LLC acquired a new position in iShares Morningstar Mid-Cap Value ETF during the 1st quarter worth approximately $132,000. Kintra Wealth LLC purchased a new position in iShares Morningstar Mid-Cap Value ETF in the 2nd quarter worth approximately $210,000. Finally, NewEdge Advisors LLC lifted its position in shares of iShares Morningstar Mid-Cap Value ETF by 123.1% during the second quarter. NewEdge Advisors LLC now owns 4,311 shares of the company’s stock worth $394,000 after purchasing an additional 2,379 shares in the last quarter.

About iShares Morningstar Mid-Cap Value ETF

The iShares Morningstar Mid-Cap Value ETF (IMCV) is an exchange-traded fund that is based on the Morningstar US Mid Cap Broad Value index. The fund tracks a market cap-weighted index of US mid-cap stocks companies selected based on their value characteristics. IMCV was launched on Jun 28, 2004 and is managed by BlackRock.