iShares MSCI USA Momentum Factor ETF (BATS:MTUM) Hits New 52-Week High – Here’s What Happened

iShares MSCI USA Momentum Factor ETF (BATS:MTUM) shares reached a new 52-week high on Tuesday . The stock traded as high as $310.26 and last traded at $310.25, with a volume of 113938 shares traded. The stock had previously closed at $303.60.

iShares MSCI USA Momentum Factor ETF Price Performance

The stock’s fifty day simple moving average is $270.51 and its 200-day simple moving average is $258.25. The stock has a market cap of $22.80 billion, a P/E ratio of 28.67 and a beta of 1.02.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MTUM. Bison Wealth LLC lifted its stake in iShares MSCI USA Momentum Factor ETF by 4.4% in the fourth quarter. Bison Wealth LLC now owns 3,148 shares of the company’s stock valued at $651,000 after buying an additional 133 shares during the last quarter. Empowered Funds LLC bought a new position in shares of iShares MSCI USA Momentum Factor ETF during the first quarter worth about $2,488,000. Russell Investments Group Ltd. grew its position in shares of iShares MSCI USA Momentum Factor ETF by 15.1% during the second quarter. Russell Investments Group Ltd. now owns 973 shares of the company’s stock worth $234,000 after acquiring an additional 128 shares during the last quarter. First Trust Advisors LP acquired a new stake in shares of iShares MSCI USA Momentum Factor ETF in the 2nd quarter worth about $350,000. Finally, Qube Research & Technologies Ltd increased its holdings in shares of iShares MSCI USA Momentum Factor ETF by 543.9% in the 2nd quarter. Qube Research & Technologies Ltd now owns 127,461 shares of the company’s stock worth $30,631,000 after acquiring an additional 107,665 shares during the period.

iShares MSCI USA Momentum Factor ETF Company 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.