Uniting Wealth Partners LLC Invests $5.49 Million in iShares MSCI USA Momentum Factor ETF $MTUM

Uniting Wealth Partners LLC purchased a new stake in shares of iShares MSCI USA Momentum Factor ETF (BATS:MTUM) during the 3rd quarter, Holdings Channel reports. The fund purchased 21,402 shares of the company’s stock, valued at approximately $5,489,000. iShares MSCI USA Momentum Factor ETF comprises 1.3% of Uniting Wealth Partners LLC’s investment portfolio, making the stock its 19th biggest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its position in 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 valued at $3,037,545,000 after purchasing an additional 1,094,104 shares during the period. Raymond James Financial Inc. grew its position in shares of iShares MSCI USA Momentum Factor ETF by 0.4% during the 2nd quarter. Raymond James Financial Inc. now owns 2,942,400 shares of the company’s stock worth $707,117,000 after buying an additional 12,526 shares during the period. Assetmark Inc. raised its stake in shares of 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 last quarter. Ameriprise Financial Inc. lifted its holdings in iShares MSCI USA Momentum Factor ETF by 15.8% in the second quarter. Ameriprise Financial Inc. now owns 1,231,042 shares of the company’s stock valued at $295,986,000 after buying an additional 168,340 shares during the period. Finally, State of Michigan Retirement System boosted its stake in iShares MSCI USA Momentum Factor ETF by 1.4% in the third quarter. State of Michigan Retirement System now owns 1,223,490 shares of the company’s stock valued at $313,764,000 after acquiring an additional 17,400 shares during the last quarter.

iShares MSCI USA Momentum Factor ETF Stock Performance

MTUM opened at $251.48 on Friday. The company has a fifty day moving average price of $254.15 and a two-hundred day moving average price of $250.97. The firm has a market capitalization of $18.36 billion, a PE ratio of 28.67 and a beta of 1.02. iShares MSCI USA Momentum Factor ETF has a 52 week low of $171.51 and a 52 week high of $262.10.

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. MTUM was launched on Apr 16, 2013 and is managed by BlackRock.