iShares Morningstar Mid-Cap ETF (NYSEARCA:IMCB) Reaches New 12-Month High – Time to Buy?

iShares Morningstar Mid-Cap ETF (NYSEARCA:IMCB)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $85.90 and last traded at $85.83, with a volume of 10529 shares traded. The stock had previously closed at $85.57.

iShares Morningstar Mid-Cap ETF Trading Down 0.1%

The stock’s 50 day moving average price is $82.88 and its 200 day moving average price is $82.21. The firm has a market cap of $1.45 billion, a PE ratio of 56.60 and a beta of 1.04.

Hedge Funds Weigh In On iShares Morningstar Mid-Cap ETF

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada raised its stake in shares of iShares Morningstar Mid-Cap ETF by 0.8% during the first quarter. Royal Bank of Canada now owns 46,267 shares of the company’s stock valued at $3,428,000 after purchasing an additional 369 shares during the period. Brand Asset Management Group Inc. increased its stake in iShares Morningstar Mid-Cap ETF by 1.2% during the 2nd quarter. Brand Asset Management Group Inc. now owns 36,400 shares of the company’s stock worth $2,900,000 after buying an additional 430 shares during the period. Farther Finance Advisors LLC increased its stake in iShares Morningstar Mid-Cap ETF by 1,347.2% during the 2nd quarter. Farther Finance Advisors LLC now owns 42,691 shares of the company’s stock worth $3,401,000 after buying an additional 39,741 shares during the period. Sowell Financial Services LLC acquired a new position in iShares Morningstar Mid-Cap ETF in the 2nd quarter worth $3,070,000. Finally, Matrix Trust Co lifted its holdings in iShares Morningstar Mid-Cap ETF by 1.4% in the 2nd quarter. Matrix Trust Co now owns 177,216 shares of the company’s stock worth $14,117,000 after buying an additional 2,431 shares in the last quarter. 22.26% of the stock is owned by institutional investors and hedge funds.

About iShares Morningstar Mid-Cap ETF

The iShares Morningstar Mid-Cap ETF (IMCB) is an exchange-traded fund that is based on the Morningstar US Mid Cap index. The fund tracks a market cap-weighted index consisting of US mid-cap stocks with both growth and value characteristics. IMCB was launched on Jun 28, 2004 and is managed by BlackRock.