MLG Wealth Management DBA Pine Grove Financial Group Lowers Stock Holdings in iShares MSCI USA Momentum Factor ETF $MTUM

MLG Wealth Management DBA Pine Grove Financial Group lessened its holdings in shares of iShares MSCI USA Momentum Factor ETF (BATS:MTUM) by 19.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 34,709 shares of the company’s stock after selling 8,269 shares during the quarter. iShares MSCI USA Momentum Factor ETF makes up about 1.2% of MLG Wealth Management DBA Pine Grove Financial Group’s investment portfolio, making the stock its 25th biggest position. MLG Wealth Management DBA Pine Grove Financial Group’s holdings in iShares MSCI USA Momentum Factor ETF were worth $11,913,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in MTUM. Mercer Global Advisors Inc. ADV increased its stake in iShares MSCI USA Momentum Factor ETF by 3.0% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 7,824,890 shares of the company’s stock valued at $1,958,649,000 after purchasing an additional 229,850 shares during the last quarter. LPL Financial LLC grew its holdings in iShares MSCI USA Momentum Factor ETF by 24.7% in the 4th quarter. LPL Financial LLC now owns 3,291,857 shares of the company’s stock valued at $823,985,000 after buying an additional 652,414 shares during the period. Raymond James Financial Inc. grew its holdings in iShares MSCI USA Momentum Factor ETF by 5.0% in the 4th quarter. Raymond James Financial Inc. now owns 3,215,974 shares of the company’s stock valued at $804,990,000 after buying an additional 152,723 shares during the period. Corient Private Wealth LLC increased its stake in shares of iShares MSCI USA Momentum Factor ETF by 185.9% during the 4th quarter. Corient Private Wealth LLC now owns 2,048,917 shares of the company’s stock valued at $512,864,000 after acquiring an additional 1,332,181 shares during the last quarter. Finally, State of Michigan Retirement System increased its stake in shares of iShares MSCI USA Momentum Factor ETF by 4.1% during the 1st quarter. State of Michigan Retirement System now owns 1,340,090 shares of the company’s stock valued at $321,608,000 after acquiring an additional 52,800 shares during the last quarter.

iShares MSCI USA Momentum Factor ETF Stock Performance

iShares MSCI USA Momentum Factor ETF stock opened at $304.86 on Tuesday. iShares MSCI USA Momentum Factor ETF has a 1 year low of $229.42 and a 1 year high of $345.59. The firm has a 50 day moving average price of $308.93 and a 200 day moving average price of $291.09. The company has a market cap of $22.25 billion, a price-to-earnings ratio of 28.67 and a beta of 1.02.

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. MTUM was launched on Apr 16, 2013 and is managed by BlackRock.