iShares Morningstar Mid-Cap Growth ETF (NYSEARCA:IMCG) Hits New 52-Week High – Should You Buy?

iShares Morningstar Mid-Cap Growth ETF (NYSEARCA:IMCG) reached a new 52-week high during trading on Thursday . The stock traded as high as $79.01 and last traded at $79.01, with a volume of 66115 shares changing hands. The stock had previously closed at $77.85.

iShares Morningstar Mid-Cap Growth ETF Price Performance

The firm has a market capitalization of $2.31 billion, a PE ratio of 27.60 and a beta of 1.13. The company’s fifty day simple moving average is $74.39 and its 200 day simple moving average is $70.58.

Institutional Investors Weigh In On iShares Morningstar Mid-Cap Growth ETF

A number of institutional investors and hedge funds have recently modified their holdings of IMCG. Strategic Financial Concepts LLC lifted its holdings in shares of iShares Morningstar Mid-Cap Growth ETF by 6,375.5% in the second quarter. Strategic Financial Concepts LLC now owns 218,613 shares of the company’s stock worth $148,000 after buying an additional 215,237 shares in the last quarter. Cetera Investment Advisers raised its stake in iShares Morningstar Mid-Cap Growth ETF by 946.7% in the first quarter. Cetera Investment Advisers now owns 187,067 shares of the company’s stock valued at $13,222,000 after purchasing an additional 169,195 shares in the last quarter. Eagle Strategies LLC raised its stake in iShares Morningstar Mid-Cap Growth ETF by 391.0% in the second quarter. Eagle Strategies LLC now owns 109,301 shares of the company’s stock valued at $7,405,000 after purchasing an additional 87,040 shares in the last quarter. Nwam LLC purchased a new stake in iShares Morningstar Mid-Cap Growth ETF in the third quarter valued at approximately $3,773,000. Finally, Envestnet Asset Management Inc. raised its stake in iShares Morningstar Mid-Cap Growth ETF by 20.4% in the second quarter. Envestnet Asset Management Inc. now owns 221,629 shares of the company’s stock valued at $15,015,000 after purchasing an additional 37,486 shares in the last quarter.

About iShares Morningstar Mid-Cap Growth ETF

The iShares Morningstar Mid-Cap Growth ETF (IMCG) is an exchange-traded fund that is based on the Morningstar US Mid Cap Broad Growth index. The fund tracks a market cap-weighted index of US mid-cap stocks companies selected based on their growth characteristics. IMCG was launched on Jun 28, 2004 and is managed by BlackRock.