iShares Morningstar Mid-Cap Value ETF (NASDAQ:IMCV) Reaches New 1-Year High – What’s Next?

iShares Morningstar Mid-Cap Value ETF (NASDAQ:IMCV) shares reached a new 52-week high on Tuesday . The stock traded as high as $97.32 and last traded at $97.32, with a volume of 1126 shares changing hands. The stock had previously closed at $96.72.

iShares Morningstar Mid-Cap Value ETF Price Performance

The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 16.35 and a beta of 0.86. The firm’s fifty day moving average price is $93.30 and its two-hundred day moving average price is $89.40.

iShares Morningstar Mid-Cap Value ETF Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Monday, June 15th were paid a dividend of $0.418 per share. This is an increase from iShares Morningstar Mid-Cap Value ETF’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.67 dividend on an annualized basis and a yield of 1.7%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Inc. raised its position in shares of iShares Morningstar Mid-Cap Value ETF by 3.3% during the third quarter. Raymond James Financial Inc. now owns 409,104 shares of the company’s stock worth $32,872,000 after purchasing an additional 13,194 shares during the period. LPL Financial LLC grew its position in iShares Morningstar Mid-Cap Value ETF by 22.1% in the 4th quarter. LPL Financial LLC now owns 338,792 shares of the company’s stock valued at $27,895,000 after purchasing an additional 61,366 shares during the period. Commonwealth Equity Services LLC grew its position in iShares Morningstar Mid-Cap Value ETF by 7.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 291,826 shares of the company’s stock valued at $24,028,000 after purchasing an additional 19,595 shares during the period. Wells Fargo & Company MN increased its stake 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 valued at $21,514,000 after purchasing an additional 42,544 shares in the last quarter. Finally, Bank of America Corp DE increased its stake 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 valued at $18,335,000 after purchasing an additional 8,581 shares in the last quarter.

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.