iShares Morningstar Mid-Cap Value ETF (NASDAQ:IMCV) Sets New 1-Year High – Still a Buy?

iShares Morningstar Mid-Cap Value ETF (NASDAQ:IMCV)’s share price reached a new 52-week high on Wednesday. The company traded as high as $100.38 and last traded at $99.87, with a volume of 3,509 shares trading hands. The stock had previously closed at $99.62.

iShares Morningstar Mid-Cap Value ETF Trading Up 1.5%

The company has a market capitalization of $1.29 billion, a PE ratio of 16.35 and a beta of 0.87. The stock has a fifty day simple moving average of $95.82 and a 200-day simple moving average of $91.25.

iShares Morningstar Mid-Cap Value ETF Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Tuesday, September 15th were paid a dividend of $0.5179 per share. The ex-dividend date was Tuesday, September 15th. This is a positive change from iShares Morningstar Mid-Cap Value ETF’s previous quarterly dividend of $0.4180. This represents a $2.07 annualized dividend and a yield of 2.1%.

Hedge Funds Weigh In On iShares Morningstar Mid-Cap Value ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IMCV. Steele Capital Management Inc. purchased a new position in iShares Morningstar Mid-Cap Value ETF in the third quarter valued at approximately $19,283,000. Commonwealth Equity Services LLC acquired a new stake in iShares Morningstar Mid-Cap Value ETF during the third quarter worth approximately $25,796,000. International Assets Investment Management LLC lifted its position in shares of iShares Morningstar Mid-Cap Value ETF by 1,182.7% during the 3rd quarter. International Assets Investment Management LLC now owns 32,759 shares of the company’s stock worth $3,006,000 after buying an additional 30,205 shares during the last quarter. D.A. Davidson & CO. purchased a new stake in shares of iShares Morningstar Mid-Cap Value ETF during the 3rd quarter worth approximately $658,000. Finally, LaFleur & Godfrey LLC acquired a new position in shares of iShares Morningstar Mid-Cap Value ETF in the 3rd quarter valued at $991,000.

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.