iShares Morningstar Mid-Cap Value ETF (NASDAQ:IMCV) Sets New 12-Month High – Still a Buy?

iShares Morningstar Mid-Cap Value ETF (NASDAQ:IMCV) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $94.33 and last traded at $94.24, with a volume of 4987 shares changing hands. The stock had previously closed at $93.51.

iShares Morningstar Mid-Cap Value ETF Stock Performance

The company has a market cap of $1.11 billion, a PE ratio of 16.35 and a beta of 0.86. The stock’s 50-day simple moving average is $90.54 and its 200 day simple moving average is $87.73.

iShares Morningstar Mid-Cap Value ETF Increases Dividend

The company also recently declared 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 represents a $1.67 dividend on an annualized basis and a dividend yield of 1.8%. This is a positive change from iShares Morningstar Mid-Cap Value ETF’s previous quarterly dividend of $0.35. The ex-dividend date was Monday, June 15th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in IMCV. International Assets Investment Management LLC acquired a new position in iShares Morningstar Mid-Cap Value ETF during the 1st quarter worth approximately $26,000. Russell Investments Group Ltd. raised its stake in shares of iShares Morningstar Mid-Cap Value ETF by 394.4% during the 4th quarter. Russell Investments Group Ltd. now owns 351 shares of the company’s stock worth $29,000 after buying an additional 280 shares in the last quarter. Godfrey Financial Associates Inc. acquired a new stake in shares of iShares Morningstar Mid-Cap Value ETF in the 4th quarter valued at approximately $34,000. Wealth Watch Advisors INC acquired a new position in iShares Morningstar Mid-Cap Value ETF during the third quarter worth $35,000. Finally, Bessemer Group Inc. acquired a new position in iShares Morningstar Mid-Cap Value ETF during the first quarter worth $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.