Pinnacle Associates Ltd. Purchases 4,078 Shares of iShares MSCI USA Momentum Factor ETF $MTUM

Pinnacle Associates Ltd. raised its position in iShares MSCI USA Momentum Factor ETF (BATS:MTUM) by 126.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 7,298 shares of the company’s stock after acquiring an additional 4,078 shares during the period. Pinnacle Associates Ltd.’s holdings in iShares MSCI USA Momentum Factor ETF were worth $1,872,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in MTUM. Raymond James Financial Inc. increased its holdings in iShares MSCI USA Momentum Factor ETF by 0.4% in the 2nd quarter. Raymond James Financial Inc. now owns 2,942,400 shares of the company’s stock worth $707,117,000 after acquiring an additional 12,526 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in iShares MSCI USA Momentum Factor ETF by 15.8% during the second quarter. Ameriprise Financial Inc. now owns 1,231,042 shares of the company’s stock valued at $295,986,000 after purchasing an additional 168,340 shares during the last quarter. State of Michigan Retirement System lifted its holdings in iShares MSCI USA Momentum Factor ETF by 1.4% during 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 purchasing an additional 17,400 shares during the last quarter. Cerity Partners LLC boosted its position in iShares MSCI USA Momentum Factor ETF by 2.6% during the third quarter. Cerity Partners LLC now owns 1,151,952 shares of the company’s stock worth $295,418,000 after purchasing an additional 29,230 shares during the period. Finally, Bank of America Corp DE boosted its position in iShares MSCI USA Momentum Factor ETF by 7.9% during the second quarter. Bank of America Corp DE now owns 1,144,119 shares of the company’s stock worth $274,955,000 after purchasing an additional 83,739 shares during the period.

iShares MSCI USA Momentum Factor ETF Stock Up 0.4%

MTUM opened at $248.28 on Wednesday. The firm has a 50-day moving average price of $253.81 and a 200-day moving average price of $251.91. iShares MSCI USA Momentum Factor ETF has a twelve month low of $171.51 and a twelve month high of $262.10. The company has a market capitalization of $18.12 billion, a price-to-earnings ratio of 28.67 and a beta of 1.02.

iShares MSCI USA Momentum Factor ETF Profile

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.