iShares Russell Mid-Cap ETF (NYSEARCA:IWR) Sees Strong Trading Volume – Should You Buy?

iShares Russell Mid-Cap ETF (NYSEARCA:IWR) saw strong trading volume on Wednesday. Approximately 5,787,137 shares changed hands during trading, an increase of 161% from the average daily volume of 2,216,455 shares. The stock last traded at $110.6960 and had previously closed at $110.35.

iShares Russell Mid-Cap ETF Stock Up 0.9%

The company has a market capitalization of $58.75 billion, a PE ratio of 20.27 and a beta of 1.00. The firm has a 50-day moving average of $109.67 and a two-hundred day moving average of $106.10.

Hedge Funds Weigh In On iShares Russell Mid-Cap ETF

A number of hedge funds have recently modified their holdings of IWR. Baird Financial Group Inc. grew its holdings in iShares Russell Mid-Cap ETF by 18.8% during the 2nd quarter. Baird Financial Group Inc. now owns 10,660,298 shares of the company’s stock valued at $1,176,044,000 after purchasing an additional 1,690,390 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in iShares Russell Mid-Cap ETF by 0.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 4,500,690 shares of the company’s stock valued at $496,505,000 after buying an additional 29,329 shares during the last quarter. AMG National Trust Bank increased its position in shares of iShares Russell Mid-Cap ETF by 2.0% during the first quarter. AMG National Trust Bank now owns 3,889,097 shares of the company’s stock worth $378,137,000 after acquiring an additional 77,476 shares during the last quarter. Fifth Third Bancorp increased its position in shares of iShares Russell Mid-Cap ETF by 25.7% during the first quarter. Fifth Third Bancorp now owns 2,547,979 shares of the company’s stock worth $247,740,000 after acquiring an additional 521,709 shares during the last quarter. Finally, Glenview Trust Co lifted its stake in shares of iShares Russell Mid-Cap ETF by 0.8% in the third quarter. Glenview Trust Co now owns 1,418,745 shares of the company’s stock worth $151,394,000 after acquiring an additional 10,717 shares in the last quarter. 80.16% of the stock is currently owned by hedge funds and other institutional investors.

About iShares Russell Mid-Cap ETF

iShares Russell Mid-Cap ETF (the Fund), formerly iShares Russell Midcap Index Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance of the Russell Midcap Index (the Index). The Index measures the performance of the mid-capitalization sector of the United States equity market. The Index is a float-adjusted, capitalization-weighted index of the 800 smallest issuers in the Russell 1000 Index. The Index includes equity securities issued by issuers, which range in size between approximately $1.7 billion and $12 billion, though these amounts may change from time to time.