iShares Morningstar Mid-Cap Value ETF (NASDAQ:IMCV) Reaches New 52-Week High – Here’s Why

Shares of iShares Morningstar Mid-Cap Value ETF (NASDAQ:IMCV) reached a new 52-week high on Wednesday . The company traded as high as $81.55 and last traded at $81.5590, with a volume of 6716 shares trading hands. The stock had previously closed at $80.65.

iShares Morningstar Mid-Cap Value ETF Price Performance

The firm has a market cap of $885.26 million, a P/E ratio of 16.35 and a beta of 0.96. The stock’s 50-day simple moving average is $79.79 and its two-hundred day simple moving average is $77.92.

iShares Morningstar Mid-Cap Value ETF Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Tuesday, September 16th were issued a $0.4212 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Tuesday, September 16th.

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

A number of institutional investors have recently modified their holdings of the stock. DAVENPORT & Co LLC increased its holdings in iShares Morningstar Mid-Cap Value ETF by 78.6% in the second quarter. DAVENPORT & Co LLC now owns 52,522 shares of the company’s stock valued at $3,991,000 after buying an additional 23,111 shares in the last quarter. LPL Financial LLC grew its position in shares of iShares Morningstar Mid-Cap Value ETF by 7.8% during the 1st quarter. LPL Financial LLC now owns 170,079 shares of the company’s stock valued at $12,618,000 after acquiring an additional 12,315 shares during the period. Dynamic Advisor Solutions LLC purchased a new position in shares of iShares Morningstar Mid-Cap Value ETF in the 2nd quarter valued at about $1,956,000. Marietta Wealth Management LLC raised its holdings in iShares Morningstar Mid-Cap Value ETF by 6.1% in the 2nd quarter. Marietta Wealth Management LLC now owns 81,441 shares of the company’s stock worth $6,188,000 after purchasing an additional 4,694 shares during the period. Finally, Rodgers & Associates LTD raised its holdings in iShares Morningstar Mid-Cap Value ETF by 7.1% in the 2nd quarter. Rodgers & Associates LTD now owns 100,912 shares of the company’s stock worth $7,667,000 after purchasing an additional 6,732 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.