iShares Morningstar Mid-Cap Value ETF (NASDAQ:IMCV) Reaches New 52-Week High – Here’s Why

iShares Morningstar Mid-Cap Value ETF (NASDAQ:IMCV) shares reached a new 52-week high during trading on Thursday . The company traded as high as $92.45 and last traded at $92.21, with a volume of 7102 shares traded. The stock had previously closed at $91.06.

iShares Morningstar Mid-Cap Value ETF Stock Performance

The firm’s 50-day simple moving average is $89.47 and its 200 day simple moving average is $86.84. The company has a market cap of $1.06 billion, a P/E ratio of 16.35 and a beta of 0.86.

iShares Morningstar Mid-Cap Value ETF Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Monday, June 15th were paid a dividend of $0.418 per share. This represents a $1.67 dividend on an annualized basis and a dividend yield of 1.8%. This is a boost from iShares Morningstar Mid-Cap Value ETF’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Monday, June 15th.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC bought a new position in iShares Morningstar Mid-Cap Value ETF during the first quarter worth about $26,000. Russell Investments Group Ltd. raised its position in shares of iShares Morningstar Mid-Cap Value ETF by 394.4% in the 4th quarter. Russell Investments Group Ltd. now owns 351 shares of the company’s stock valued at $29,000 after acquiring an additional 280 shares during the period. Godfrey Financial Associates Inc. bought a new position in iShares Morningstar Mid-Cap Value ETF during the 4th quarter worth approximately $34,000. Wealth Watch Advisors INC bought a new position in iShares Morningstar Mid-Cap Value ETF during the 3rd quarter worth approximately $35,000. Finally, Bessemer Group Inc. acquired a new position in iShares Morningstar Mid-Cap Value ETF during the first quarter valued at approximately $53,000.

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.