iShares Morningstar Mid-Cap Value ETF (NASDAQ:IMCV) Sets New 52-Week High – Still a Buy?

Shares of iShares Morningstar Mid-Cap Value ETF (NASDAQ:IMCV) reached a new 52-week high during trading on Wednesday . The company traded as high as $97.16 and last traded at $96.70, with a volume of 1167 shares. The stock had previously closed at $96.83.

iShares Morningstar Mid-Cap Value ETF Price Performance

The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 16.35 and a beta of 0.86. The firm’s 50-day simple moving average is $92.46 and its two-hundred day simple moving average is $88.92.

iShares Morningstar Mid-Cap Value ETF Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 15th were paid a dividend of $0.418 per share. This is a positive change from iShares Morningstar Mid-Cap Value ETF’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.67 annualized dividend and a dividend yield of 1.7%.

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

Several hedge funds have recently bought and sold shares of IMCV. Raymond James Financial Inc. boosted its position in iShares Morningstar Mid-Cap Value ETF by 3.3% during the third quarter. Raymond James Financial Inc. now owns 409,104 shares of the company’s stock worth $32,872,000 after purchasing an additional 13,194 shares in the last quarter. LPL Financial LLC increased its position in shares of iShares Morningstar Mid-Cap Value ETF by 22.1% in the fourth quarter. LPL Financial LLC now owns 338,792 shares of the company’s stock valued at $27,895,000 after buying an additional 61,366 shares in the last quarter. Commonwealth Equity Services LLC increased its position in shares of iShares Morningstar Mid-Cap Value ETF by 7.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 291,826 shares of the company’s stock valued at $24,028,000 after buying an additional 19,595 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of iShares Morningstar Mid-Cap Value ETF by 19.4% during the 4th quarter. Wells Fargo & Company MN now owns 261,282 shares of the company’s stock worth $21,514,000 after buying an additional 42,544 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of iShares Morningstar Mid-Cap Value ETF by 3.9% during the 3rd quarter. Bank of America Corp DE now owns 228,185 shares of the company’s stock worth $18,335,000 after buying an additional 8,581 shares during the last quarter.

iShares Morningstar Mid-Cap Value ETF Company Profile

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.