iShares Morningstar Mid-Cap Value ETF (NASDAQ:IMCV) Reaches New 52-Week High – Should You Buy?

iShares Morningstar Mid-Cap Value ETF (NASDAQ:IMCV) hit a new 52-week high on Wednesday . The stock 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 Trading Down 0.3%

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 $92.72 and its 200-day simple moving average is $89.07.

iShares Morningstar Mid-Cap Value ETF Increases Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada lifted its position in iShares Morningstar Mid-Cap Value ETF by 3.2% in the first quarter. Royal Bank of Canada now owns 37,503 shares of the company’s stock valued at $2,783,000 after purchasing an additional 1,168 shares during the period. Jane Street Group LLC raised its stake in shares of iShares Morningstar Mid-Cap Value ETF by 19.3% during the 1st quarter. Jane Street Group LLC now owns 4,265 shares of the company’s stock worth $316,000 after buying an additional 691 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of iShares Morningstar Mid-Cap Value ETF by 95.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 18,151 shares of the company’s stock worth $1,379,000 after buying an additional 8,884 shares in the last quarter. Baird Financial Group Inc. lifted its holdings in shares of iShares Morningstar Mid-Cap Value ETF by 21.1% in the 2nd quarter. Baird Financial Group Inc. now owns 17,237 shares of the company’s stock valued at $1,310,000 after buying an additional 3,008 shares during the period. Finally, Diversify Advisory Services LLC lifted its holdings in shares of iShares Morningstar Mid-Cap Value ETF by 10.0% in the 2nd quarter. Diversify Advisory Services LLC now owns 16,776 shares of the company’s stock valued at $1,308,000 after buying an additional 1,532 shares during the period.

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.