iShares MSCI USA Momentum Factor ETF (BATS:MTUM) Hits New 52-Week High – Time to Buy?

iShares MSCI USA Momentum Factor ETF (BATS:MTUM) shares reached a new 52-week high on Monday . The company traded as high as $334.00 and last traded at $333.71, with a volume of 113846 shares trading hands. The stock had previously closed at $324.40.

iShares MSCI USA Momentum Factor ETF Price Performance

The stock has a market capitalization of $24.32 billion, a PE ratio of 28.67 and a beta of 1.02. The stock’s 50 day simple moving average is $291.25 and its two-hundred day simple moving average is $265.28.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mercer Global Advisors Inc. ADV raised its position in shares of 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 period. LPL Financial LLC raised its position in shares of iShares MSCI USA Momentum Factor ETF by 24.7% in the fourth quarter. LPL Financial LLC now owns 3,291,857 shares of the company’s stock valued at $823,985,000 after purchasing an additional 652,414 shares during the period. Raymond James Financial Inc. raised its position in shares of iShares MSCI USA Momentum Factor ETF by 5.0% in the fourth quarter. Raymond James Financial Inc. now owns 3,215,974 shares of the company’s stock valued at $804,990,000 after purchasing an additional 152,723 shares during the period. Corient Private Wealth LLC increased its holdings in 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 worth $512,864,000 after acquiring an additional 1,332,181 shares during the period. Finally, Assetmark Inc. increased its holdings in iShares MSCI USA Momentum Factor ETF by 2.5% during the 4th quarter. Assetmark Inc. now owns 1,502,409 shares of the company’s stock worth $376,068,000 after acquiring an additional 37,278 shares during the period.

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