Milestone Asset Management LLC Increases Stake in iShares MSCI USA Momentum Factor ETF $MTUM

Milestone Asset Management LLC grew its stake in iShares MSCI USA Momentum Factor ETF (BATS:MTUM) by 105.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 7,440 shares of the company’s stock after buying an additional 3,818 shares during the quarter. Milestone Asset Management LLC’s holdings in iShares MSCI USA Momentum Factor ETF were worth $1,908,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Envestnet Asset Management Inc. lifted its stake in shares of iShares MSCI USA Momentum Factor ETF by 9.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 12,639,702 shares of the company’s stock valued at $3,037,545,000 after purchasing an additional 1,094,104 shares during the period. Raymond James Financial Inc. grew its position in iShares MSCI USA Momentum Factor ETF by 0.4% during the second quarter. Raymond James Financial Inc. now owns 2,942,400 shares of the company’s stock valued at $707,117,000 after buying an additional 12,526 shares during the period. Assetmark Inc. grew its position in iShares MSCI USA Momentum Factor ETF by 2.4% during the second quarter. Assetmark Inc. now owns 1,855,684 shares of the company’s stock valued at $445,958,000 after buying an additional 42,864 shares during the period. Ameriprise Financial Inc. increased its holdings in iShares MSCI USA Momentum Factor ETF by 15.8% in the second quarter. Ameriprise Financial Inc. now owns 1,231,042 shares of the company’s stock valued at $295,986,000 after buying an additional 168,340 shares in the last quarter. Finally, Blue Trust Inc. raised its position in shares of iShares MSCI USA Momentum Factor ETF by 0.7% in the second quarter. Blue Trust Inc. now owns 1,210,478 shares of the company’s stock worth $290,902,000 after acquiring an additional 8,459 shares during the period.

iShares MSCI USA Momentum Factor ETF Stock Up 22.2%

MTUM stock opened at $255.36 on Thursday. The company’s 50-day simple moving average is $250.06 and its 200-day simple moving average is $246.08. iShares MSCI USA Momentum Factor ETF has a 52-week low of $168.49 and a 52-week high of $240.99. The firm has a market cap of $18.64 billion, a P/E ratio of 28.67 and a beta of 1.02.

About iShares MSCI USA Momentum Factor ETF

The iShares MSCI USA Momentum Factor ETF (MTUM) is an exchange-traded fund that is based on the MSCI USA Momentum SR Variant index. The fund tracks an index of large- and mid-cap US equities, selected and weighted based on price appreciation over 6- and 12-month periods and low volatility over the past 3 years. MTUM was launched on Apr 16, 2013 and is managed by BlackRock.