iShares MSCI USA Momentum Factor ETF $MTUM is Summit Wealth Group LLC’s 8th Largest Position

Summit Wealth Group LLC trimmed its holdings in iShares MSCI USA Momentum Factor ETF (BATS:MTUM) by 14.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 56,591 shares of the company’s stock after selling 9,457 shares during the period. iShares MSCI USA Momentum Factor ETF makes up about 3.5% of Summit Wealth Group LLC’s holdings, making the stock its 8th largest holding. Summit Wealth Group LLC’s holdings in iShares MSCI USA Momentum Factor ETF were worth $13,600,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Envestnet Asset Management Inc. grew its holdings in shares of iShares MSCI USA Momentum Factor ETF by 9.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 12,639,702 shares of the company’s stock worth $3,037,545,000 after purchasing an additional 1,094,104 shares during the period. Mullooly Asset Management Inc. purchased a new position in iShares MSCI USA Momentum Factor ETF during the first quarter worth about $2,162,511,000. Raymond James Financial Inc. boosted its stake in iShares MSCI USA Momentum Factor ETF by 5.5% during the first quarter. Raymond James Financial Inc. now owns 2,929,874 shares of the company’s stock worth $592,215,000 after buying an additional 151,872 shares during the period. LPL Financial LLC boosted its stake in iShares MSCI USA Momentum Factor ETF by 0.3% during the first quarter. LPL Financial LLC now owns 1,960,110 shares of the company’s stock worth $396,197,000 after buying an additional 5,473 shares during the period. Finally, Assetmark Inc. boosted its stake 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 worth $445,958,000 after buying an additional 42,864 shares during the period.

iShares MSCI USA Momentum Factor ETF Stock Performance

BATS:MTUM opened at $250.11 on Thursday. The stock has a market capitalization of $18.26 billion, a P/E ratio of 28.67 and a beta of 1.02. The company has a 50 day moving average price of $252.71 and a 200 day moving average price of $239.30. iShares MSCI USA Momentum Factor ETF has a fifty-two week low of $168.49 and a fifty-two week high of $240.99.

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.