Ocean Park Asset Management LLC Invests $656,000 in iShares MSCI USA Momentum Factor ETF $MTUM

Ocean Park Asset Management LLC acquired a new stake in shares of iShares MSCI USA Momentum Factor ETF (BATS:MTUM) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 2,621 shares of the company’s stock, valued at approximately $656,000.

A number of other hedge funds also recently made changes to their positions in the stock. Raymond James Financial Inc. grew its position in iShares MSCI USA Momentum Factor ETF by 4.1% in the third quarter. Raymond James Financial Inc. now owns 3,063,251 shares of the company’s stock worth $785,571,000 after acquiring an additional 120,851 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in iShares MSCI USA Momentum Factor ETF by 7.4% during the third quarter. Ameriprise Financial Inc. now owns 1,321,883 shares of the company’s stock worth $339,023,000 after purchasing an additional 90,841 shares during the last quarter. Bank of America Corp DE lifted its stake in iShares MSCI USA Momentum Factor ETF by 8.3% during the third quarter. Bank of America Corp DE now owns 1,239,000 shares of the company’s stock worth $317,742,000 after purchasing an additional 94,881 shares during the last quarter. State of Michigan Retirement System boosted its holdings in shares of iShares MSCI USA Momentum Factor ETF by 1.4% in the 3rd quarter. State of Michigan Retirement System now owns 1,223,490 shares of the company’s stock worth $313,764,000 after purchasing an additional 17,400 shares in the last quarter. Finally, Cerity Partners LLC boosted its holdings in shares of iShares MSCI USA Momentum Factor ETF by 2.6% in the 3rd quarter. Cerity Partners LLC now owns 1,151,952 shares of the company’s stock worth $295,418,000 after purchasing an additional 29,230 shares in the last quarter.

iShares MSCI USA Momentum Factor ETF Stock Performance

Shares of BATS MTUM opened at $235.76 on Monday. The stock has a market cap of $17.21 billion, a price-to-earnings ratio of 28.67 and a beta of 1.02. iShares MSCI USA Momentum Factor ETF has a 1-year low of $171.51 and a 1-year high of $262.10. The stock’s 50-day moving average is $250.90 and its 200 day moving average is $251.82.

iShares MSCI USA Momentum Factor ETF Profile

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.