iShares Morningstar Mid-Cap Value ETF (NASDAQ:IMCV) Sets New 12-Month High – Here’s Why

Shares of iShares Morningstar Mid-Cap Value ETF (NASDAQ:IMCV) hit a new 52-week high on Thursday . The company traded as high as $91.05 and last traded at $91.05, with a volume of 9905 shares traded. The stock had previously closed at $89.94.

iShares Morningstar Mid-Cap Value ETF Trading Up 0.9%

The firm has a market cap of $1.06 billion, a P/E ratio of 16.35 and a beta of 0.86. The business has a 50-day moving average of $88.60 and a two-hundred day moving average of $86.18.

iShares Morningstar Mid-Cap Value ETF Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Tuesday, March 17th were issued a dividend of $0.3501 per share. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $1.40 annualized dividend and a yield of 1.5%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. lifted its holdings in iShares Morningstar Mid-Cap Value ETF by 3.3% during the 3rd quarter. Raymond James Financial Inc. now owns 409,104 shares of the company’s stock worth $32,872,000 after buying an additional 13,194 shares during the period. LPL Financial LLC lifted its holdings in iShares Morningstar Mid-Cap Value ETF by 22.1% during the 4th quarter. LPL Financial LLC now owns 338,792 shares of the company’s stock worth $27,895,000 after buying an additional 61,366 shares during the period. Commonwealth Equity Services LLC lifted its holdings in iShares Morningstar Mid-Cap Value ETF by 7.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 291,826 shares of the company’s stock worth $24,028,000 after buying an additional 19,595 shares during the period. Wells Fargo & Company MN lifted its holdings in iShares Morningstar Mid-Cap Value ETF by 19.4% during the 4th quarter. Wells Fargo & Company MN now owns 261,282 shares of the company’s stock worth $21,514,000 after buying an additional 42,544 shares during the period. Finally, Bank of America Corp DE lifted its holdings in iShares Morningstar Mid-Cap Value ETF by 3.9% during the 3rd quarter. Bank of America Corp DE now owns 228,185 shares of the company’s stock worth $18,335,000 after buying an additional 8,581 shares during the period.

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.