iShares Morningstar Mid-Cap Value ETF (NASDAQ:IMCV) Sets New 12-Month High – Should You Buy?

iShares Morningstar Mid-Cap Value ETF (NASDAQ:IMCV)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $92.46 and last traded at $92.43, with a volume of 9661 shares traded. The stock had previously closed at $91.38.

iShares Morningstar Mid-Cap Value ETF Stock Performance

The stock’s 50 day moving average is $89.78 and its two-hundred day moving average is $87.13. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 16.35 and a beta of 0.86.

iShares Morningstar Mid-Cap Value ETF Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 15th were given a dividend of $0.418 per share. This is an increase from iShares Morningstar Mid-Cap Value ETF’s previous quarterly dividend of $0.35. This represents a $1.67 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Monday, June 15th.

Institutional Investors Weigh In On iShares Morningstar Mid-Cap Value ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Western Wealth Management LLC acquired a new position in iShares Morningstar Mid-Cap Value ETF during the 1st quarter worth approximately $132,000. Ipsen Advisor Group LLC raised its holdings in shares of iShares Morningstar Mid-Cap Value ETF by 1.5% in the first quarter. Ipsen Advisor Group LLC now owns 84,934 shares of the company’s stock valued at $7,201,000 after purchasing an additional 1,277 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of iShares Morningstar Mid-Cap Value ETF by 4.4% in the first quarter. Royal Bank of Canada now owns 97,441 shares of the company’s stock valued at $8,262,000 after purchasing an additional 4,110 shares during the last quarter. Sentinel Advisory Group LLC acquired a new stake in shares of iShares Morningstar Mid-Cap Value ETF in the first quarter valued at approximately $866,000. Finally, Cetera Investment Advisers grew its position in iShares Morningstar Mid-Cap Value ETF by 13.9% in the first quarter. Cetera Investment Advisers now owns 109,815 shares of the company’s stock valued at $9,311,000 after purchasing an additional 13,385 shares in the last quarter.

About iShares Morningstar Mid-Cap Value ETF

The iShares Morningstar Mid-Cap Value ETF (IMCV) is an exchange-traded fund that is based on the Morningstar US Mid Cap Broad Value index. The fund tracks a market cap-weighted index of US mid-cap stocks companies selected based on their value characteristics. IMCV was launched on Jun 28, 2004 and is managed by BlackRock.