Short Interest in iShares MSCI USA Momentum Factor ETF (BATS:MTUM) Declines By 58.2%

iShares MSCI USA Momentum Factor ETF (BATS:MTUM) saw a large decrease in short interest in the month of July. As of July 31st, there was short interest totaling 933,278 shares, a decrease of 58.2% from the July 15th total of 2,235,327 shares. Approximately 1.3% of the company’s shares are short sold. Based on an average daily volume of 2,128,118 shares, the days-to-cover ratio is currently 0.4 days.

Hedge Funds Weigh In On iShares MSCI USA Momentum Factor ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Compass Financial Management LLC acquired a new position in shares of iShares MSCI USA Momentum Factor ETF during the 2nd quarter worth about $117,000. Trust Co. of Vermont acquired a new stake in shares of iShares MSCI USA Momentum Factor ETF in the 2nd quarter valued at approximately $193,000. Legacy Advisors LLC acquired a new stake in shares of iShares MSCI USA Momentum Factor ETF in the 2nd quarter valued at approximately $206,000. CPC Advisors LLC boosted its stake in iShares MSCI USA Momentum Factor ETF by 1.0% during the 2nd quarter. CPC Advisors LLC now owns 58,859 shares of the company’s stock worth $20,178,000 after acquiring an additional 591 shares during the last quarter. Finally, D.A. Davidson & CO. boosted its stake in iShares MSCI USA Momentum Factor ETF by 4.1% during the 2nd quarter. D.A. Davidson & CO. now owns 36,900 shares of the company’s stock worth $12,650,000 after acquiring an additional 1,463 shares during the last quarter.

iShares MSCI USA Momentum Factor ETF Stock Up 0.4%

BATS:MTUM opened at $317.21 on Friday. iShares MSCI USA Momentum Factor ETF has a 12-month low of $229.42 and a 12-month high of $345.59. The stock’s fifty day simple moving average is $316.54 and its 200-day simple moving average is $285.30. The firm has a market capitalization of $23.16 billion, a P/E ratio of 28.67 and a beta of 1.02.

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.