iShares Morningstar Mid-Cap Growth ETF (NYSEARCA:IMCG) Sets New 52-Week High – Here’s Why

Shares of iShares Morningstar Mid-Cap Growth ETF (NYSEARCA:IMCG) reached a new 52-week high on Monday . The stock traded as high as $97.00 and last traded at $96.74, with a volume of 14818 shares. The stock had previously closed at $94.57.

iShares Morningstar Mid-Cap Growth ETF Price Performance

The business has a 50 day simple moving average of $88.91 and a 200-day simple moving average of $84.16. The stock has a market capitalization of $3.84 billion, a price-to-earnings ratio of 28.77 and a beta of 1.14.

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

Several institutional investors and hedge funds have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. raised its holdings in iShares Morningstar Mid-Cap Growth ETF by 256.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,873,288 shares of the company’s stock worth $229,403,000 after buying an additional 2,068,305 shares during the period. LPL Financial LLC boosted its holdings in shares of iShares Morningstar Mid-Cap Growth ETF by 7.0% in the fourth quarter. LPL Financial LLC now owns 2,448,326 shares of the company’s stock valued at $195,474,000 after buying an additional 160,038 shares during the period. Morgan Stanley increased its position in shares of iShares Morningstar Mid-Cap Growth ETF by 10.0% during the fourth quarter. Morgan Stanley now owns 1,149,360 shares of the company’s stock worth $91,765,000 after acquiring an additional 104,588 shares in the last quarter. Raymond James Financial Inc. raised its holdings in shares of iShares Morningstar Mid-Cap Growth ETF by 3.1% during the third quarter. Raymond James Financial Inc. now owns 1,003,177 shares of the company’s stock worth $82,993,000 after acquiring an additional 30,585 shares during the period. Finally, Cetera Investment Advisers raised its holdings in shares of iShares Morningstar Mid-Cap Growth ETF by 2.9% during the first quarter. Cetera Investment Advisers now owns 943,563 shares of the company’s stock worth $74,324,000 after acquiring an additional 26,636 shares during the period.

About iShares Morningstar Mid-Cap Growth ETF

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