iShares Morningstar Mid-Cap Growth ETF (NYSEARCA:IMCG) Sees Large Volume Increase – Time to Buy?

iShares Morningstar Mid-Cap Growth ETF (NYSEARCA:IMCG) shares saw an uptick in trading volume on Thursday . 245,301 shares changed hands during mid-day trading, an increase of 86% from the previous session’s volume of 131,575 shares.The stock last traded at $73.08 and had previously closed at $73.28.

iShares Morningstar Mid-Cap Growth ETF Stock Down 1.9 %

The business’s 50 day moving average price is $76.33 and its 200-day moving average price is $75.97. The company has a market cap of $2.42 billion, a PE ratio of 26.48 and a beta of 1.13.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Ameriprise Financial Inc. boosted its holdings in shares of iShares Morningstar Mid-Cap Growth ETF by 15.1% during the fourth quarter. Ameriprise Financial Inc. now owns 1,393,915 shares of the company’s stock valued at $105,290,000 after acquiring an additional 182,639 shares during the period. LPL Financial LLC boosted its stake in iShares Morningstar Mid-Cap Growth ETF by 20.6% during the 4th quarter. LPL Financial LLC now owns 1,189,592 shares of the company’s stock valued at $89,850,000 after purchasing an additional 203,055 shares during the period. Raymond James Financial Inc. bought a new position in iShares Morningstar Mid-Cap Growth ETF in the 4th quarter worth about $68,262,000. Commonwealth Equity Services LLC raised its holdings in shares of iShares Morningstar Mid-Cap Growth ETF by 29.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 609,856 shares of the company’s stock valued at $46,062,000 after buying an additional 140,171 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of iShares Morningstar Mid-Cap Growth ETF by 47.9% during the fourth quarter. Wells Fargo & Company MN now owns 572,389 shares of the company’s stock worth $43,233,000 after buying an additional 185,435 shares during the period.

iShares Morningstar Mid-Cap Growth ETF Company Profile

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.