iShares MSCI USA Momentum Factor ETF (BATS:MTUM) Hits New 12-Month High – Here’s Why

iShares MSCI USA Momentum Factor ETF (BATS:MTUM) hit a new 52-week high on Monday . The stock traded as high as $217.45 and last traded at $212.98, with a volume of 1633378 shares changing hands. The stock had previously closed at $217.55.

iShares MSCI USA Momentum Factor ETF Price Performance

The business’s 50 day simple moving average is $209.05 and its 200-day simple moving average is $198.79. The stock has a market capitalization of $11.53 billion, a P/E ratio of 18.53 and a beta of 1.10.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MTUM. Mercer Global Advisors Inc. ADV increased its position in shares of iShares MSCI USA Momentum Factor ETF by 2.9% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 7,551,417 shares of the company’s stock valued at $1,463,815,000 after buying an additional 213,637 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of iShares MSCI USA Momentum Factor ETF by 4.5% during the 3rd quarter. Assetmark Inc. now owns 1,692,983 shares of the company’s stock valued at $343,269,000 after purchasing an additional 72,891 shares in the last quarter. Cerity Partners LLC grew its position in shares of iShares MSCI USA Momentum Factor ETF by 2.5% in the 3rd quarter. Cerity Partners LLC now owns 1,073,907 shares of the company’s stock valued at $217,745,000 after purchasing an additional 26,235 shares during the period. FMR LLC increased its stake in iShares MSCI USA Momentum Factor ETF by 12.2% during the 3rd quarter. FMR LLC now owns 674,367 shares of the company’s stock worth $136,735,000 after purchasing an additional 73,442 shares in the last quarter. Finally, LPL Financial LLC increased its stake in iShares MSCI USA Momentum Factor ETF by 2.0% during the 3rd quarter. LPL Financial LLC now owns 619,786 shares of the company’s stock worth $125,668,000 after purchasing an additional 11,968 shares in the last quarter.

About iShares MSCI USA Momentum Factor ETF

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.