iShares Morningstar Mid-Cap Value ETF (NASDAQ:IMCV) Sets New 1-Year High – Here’s Why

iShares Morningstar Mid-Cap Value ETF (NASDAQ:IMCV)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $97.16 and last traded at $96.70, with a volume of 1167 shares trading hands. The stock had previously closed at $96.83.

iShares Morningstar Mid-Cap Value ETF Price Performance

The company has a market cap of $1.15 billion, a price-to-earnings ratio of 16.35 and a beta of 0.86. The business’s 50-day simple moving average is $92.46 and its 200-day simple moving average is $88.92.

iShares Morningstar Mid-Cap Value ETF Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 15th were paid a dividend of $0.418 per share. This is a positive change 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. This represents a $1.67 dividend on an annualized basis and a dividend yield of 1.7%.

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

Institutional investors and hedge funds have recently bought and sold shares of the stock. Granville Capital Inc. acquired a new stake in iShares Morningstar Mid-Cap Value ETF during the 4th quarter valued at $11,654,000. UBS Group AG raised its holdings in shares of iShares Morningstar Mid-Cap Value ETF by 82.2% in the third quarter. UBS Group AG now owns 187,737 shares of the company’s stock worth $15,085,000 after acquiring an additional 84,677 shares during the last quarter. LPL Financial LLC lifted its position in shares of iShares Morningstar Mid-Cap Value ETF by 22.1% in the fourth quarter. LPL Financial LLC now owns 338,792 shares of the company’s stock valued at $27,895,000 after acquiring an additional 61,366 shares in the last quarter. Raymond James Financial Inc. boosted its stake in shares of iShares Morningstar Mid-Cap Value ETF by 18.2% during the second quarter. Raymond James Financial Inc. now owns 395,910 shares of the company’s stock valued at $30,081,000 after acquiring an additional 60,971 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in iShares Morningstar Mid-Cap Value ETF by 105.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 97,338 shares of the company’s stock worth $8,015,000 after purchasing an additional 49,880 shares in the last quarter.

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.