Short Interest in iShares Morningstar Mid-Cap Value ETF (NASDAQ:IMCV) Drops By 15.9%

iShares Morningstar Mid-Cap Value ETF (NASDAQ:IMCV) saw a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 62,600 shares, a decline of 15.9% from the February 28th total of 74,400 shares. Based on an average trading volume of 33,600 shares, the short-interest ratio is presently 1.9 days. Approximately 0.7% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC grew its stake in shares of iShares Morningstar Mid-Cap Value ETF by 35.8% in the 3rd quarter. FMR LLC now owns 3,993 shares of the company’s stock worth $306,000 after buying an additional 1,052 shares in the last quarter. Jane Street Group LLC purchased a new position in iShares Morningstar Mid-Cap Value ETF in the third quarter worth about $467,000. EP Wealth Advisors LLC bought a new stake in iShares Morningstar Mid-Cap Value ETF during the third quarter worth approximately $3,316,000. Harbour Investments Inc. raised its position in iShares Morningstar Mid-Cap Value ETF by 11.2% during the fourth quarter. Harbour Investments Inc. now owns 2,567 shares of the company’s stock valued at $191,000 after purchasing an additional 259 shares during the period. Finally, Park Avenue Securities LLC lifted its stake in shares of iShares Morningstar Mid-Cap Value ETF by 85.5% in the 4th quarter. Park Avenue Securities LLC now owns 4,919 shares of the company’s stock valued at $365,000 after purchasing an additional 2,267 shares during the last quarter.

iShares Morningstar Mid-Cap Value ETF Stock Performance

Shares of IMCV traded up $0.66 during midday trading on Wednesday, hitting $74.90. 15,960 shares of the company traded hands, compared to its average volume of 21,872. iShares Morningstar Mid-Cap Value ETF has a 52 week low of $68.12 and a 52 week high of $81.32. The firm has a 50 day moving average of $75.29 and a 200-day moving average of $76.30. The stock has a market cap of $662.87 million, a price-to-earnings ratio of 16.61 and a beta of 1.08.

iShares Morningstar Mid-Cap Value ETF Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 18th were paid a $0.4353 dividend. The ex-dividend date was Tuesday, March 18th.

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.