Forte Asset Management LLC Has $7.33 Million Holdings in iShares MSCI USA Momentum Factor ETF (BATS:MTUM)

Forte Asset Management LLC grew its stake in iShares MSCI USA Momentum Factor ETF (BATS:MTUM) by 42.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,276 shares of the company’s stock after purchasing an additional 10,898 shares during the period. iShares MSCI USA Momentum Factor ETF comprises approximately 3.7% of Forte Asset Management LLC’s investment portfolio, making the stock its 8th largest position. Forte Asset Management LLC’s holdings in iShares MSCI USA Momentum Factor ETF were worth $7,333,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Mascagni Wealth Management Inc. bought a new position in iShares MSCI USA Momentum Factor ETF in the fourth quarter valued at about $29,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of iShares MSCI USA Momentum Factor ETF in the fourth quarter valued at approximately $30,000. Compass Wealth Management LLC bought a new position in iShares MSCI USA Momentum Factor ETF in the 1st quarter valued at approximately $30,000. Halbert Hargrove Global Advisors LLC acquired a new stake in iShares MSCI USA Momentum Factor ETF during the 1st quarter worth approximately $33,000. Finally, Sunbelt Securities Inc. boosted its position in iShares MSCI USA Momentum Factor ETF by 465.5% during the 4th quarter. Sunbelt Securities Inc. now owns 164 shares of the company’s stock worth $34,000 after buying an additional 135 shares during the period.

iShares MSCI USA Momentum Factor ETF Stock Performance

Shares of BATS MTUM opened at $239.15 on Friday. The firm has a 50 day moving average price of $228.17 and a two-hundred day moving average price of $215.75. The stock has a market cap of $17.46 billion, a P/E ratio of 28.67 and a beta of 1.02. iShares MSCI USA Momentum Factor ETF has a 52-week low of $168.49 and a 52-week high of $240.75.

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.