BNY Mellon US Mid Cap Core Equity ETF (NYSEARCA:BKMC) Sees Unusually-High Trading Volume – Still a Buy?

BNY Mellon US Mid Cap Core Equity ETF (NYSEARCA:BKMC) shares saw an uptick in trading volume on Thursday . 235,324 shares traded hands during mid-day trading, an increase of 1,037% from the previous session’s volume of 20,701 shares.The stock last traded at $118.6450 and had previously closed at $117.60.

BNY Mellon US Mid Cap Core Equity ETF Stock Up 0.9%

The company’s 50-day moving average price is $114.86 and its 200-day moving average price is $110.40. The firm has a market cap of $658.73 million, a price-to-earnings ratio of 19.73 and a beta of 1.06.

BNY Mellon US Mid Cap Core Equity ETF Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 29th were given a dividend of $0.4651 per share. This is a boost from BNY Mellon US Mid Cap Core Equity ETF’s previous quarterly dividend of $0.35. This represents a $1.86 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, December 29th.

Institutional Trading of BNY Mellon US Mid Cap Core Equity ETF

Several hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its holdings in BNY Mellon US Mid Cap Core Equity ETF by 129.8% during the 4th quarter. Royal Bank of Canada now owns 2,116 shares of the company’s stock worth $231,000 after acquiring an additional 1,195 shares in the last quarter. Insigneo Advisory Services LLC purchased a new stake in shares of BNY Mellon US Mid Cap Core Equity ETF during the 4th quarter worth $541,000. Goldman Sachs Group Inc. purchased a new stake in shares of BNY Mellon US Mid Cap Core Equity ETF during the 4th quarter worth $2,181,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of BNY Mellon US Mid Cap Core Equity ETF by 18,146.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,377,956 shares of the company’s stock worth $150,108,000 after purchasing an additional 1,370,404 shares in the last quarter. Finally, Diversify Wealth Management LLC increased its holdings in BNY Mellon US Mid Cap Core Equity ETF by 29.5% in the fourth quarter. Diversify Wealth Management LLC now owns 212,257 shares of the company’s stock valued at $24,459,000 after buying an additional 48,301 shares during the last quarter.

BNY Mellon US Mid Cap Core Equity ETF Company Profile

The BNY Mellon US Mid Cap Core Equity ETF (BKMC) is an exchange-traded fund that is based on the Morningstar US Mid Cap index. The fund tracks a market-cap weighted index of US mid-cap stocks that covers the bottom 10-30% market capitalization. BKMC was launched on Apr 9, 2020 and is managed by BNY Mellon.