iShares Morningstar Mid-Cap Growth ETF (NYSEARCA:IMCG) Hits New 12-Month High – Should You Buy?

Shares of iShares Morningstar Mid-Cap Growth ETF (NYSEARCA:IMCG) hit a new 52-week high on Wednesday . The stock traded as high as $83.98 and last traded at $82.6110, with a volume of 16817 shares. The stock had previously closed at $83.16.

iShares Morningstar Mid-Cap Growth ETF Stock Down 0.2%

The firm has a market cap of $3.23 billion, a P/E ratio of 28.77 and a beta of 1.12. The business has a fifty day simple moving average of $81.83 and a 200-day simple moving average of $81.67.

Hedge Funds Weigh In On iShares Morningstar Mid-Cap Growth ETF

A number of institutional investors and hedge funds have recently made changes to their positions in IMCG. Northwestern Mutual Wealth Management Co. boosted its stake in iShares Morningstar Mid-Cap Growth ETF by 256.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,873,288 shares of the company’s stock valued at $229,403,000 after purchasing an additional 2,068,305 shares during the last quarter. Rockport Wealth LLC purchased a new stake in shares of iShares Morningstar Mid-Cap Growth ETF during the second quarter valued at $32,494,000. Fortitude Financial LLC purchased a new stake in shares of iShares Morningstar Mid-Cap Growth ETF during the second quarter valued at $13,485,000. Bank of America Corp DE increased its holdings in iShares Morningstar Mid-Cap Growth ETF by 50.3% in the 3rd quarter. Bank of America Corp DE now owns 452,420 shares of the company’s stock worth $37,429,000 after buying an additional 151,487 shares in the last quarter. Finally, American Trust purchased a new position in iShares Morningstar Mid-Cap Growth ETF in the 2nd quarter worth about $7,465,000.

About iShares Morningstar Mid-Cap Growth ETF

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