iShares MSCI USA Momentum Factor ETF $MTUM Stock: Convergence Financial LLC Reduces Stake

Convergence Financial LLC lessened its stake in iShares MSCI USA Momentum Factor ETF (BATS:MTUM) by 40.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,749 shares of the company’s stock after selling 42,337 shares during the quarter. iShares MSCI USA Momentum Factor ETF comprises about 2.7% of Convergence Financial LLC’s investment portfolio, making the stock its 10th largest holding. Convergence Financial LLC’s holdings in iShares MSCI USA Momentum Factor ETF were worth $19,595,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. New England Private Wealth Advisors LLC boosted its holdings in iShares MSCI USA Momentum Factor ETF by 0.3% during the third quarter. New England Private Wealth Advisors LLC now owns 10,339 shares of the company’s stock worth $3,281,000 after buying an additional 34 shares during the last quarter. Beacon Financial Advisory LLC increased its stake in shares of iShares MSCI USA Momentum Factor ETF by 2.5% in the 1st quarter. Beacon Financial Advisory LLC now owns 1,504 shares of the company’s stock valued at $361,000 after acquiring an additional 36 shares during the last quarter. Signaturefd LLC increased its stake in shares of iShares MSCI USA Momentum Factor ETF by 5.4% in the 3rd quarter. Signaturefd LLC now owns 762 shares of the company’s stock valued at $242,000 after acquiring an additional 39 shares during the last quarter. 1ST Source Bank increased its stake in shares of iShares MSCI USA Momentum Factor ETF by 4.9% in the 1st quarter. 1ST Source Bank now owns 944 shares of the company’s stock valued at $227,000 after acquiring an additional 44 shares during the last quarter. Finally, LifeSteps Financial Inc. raised its position in shares of iShares MSCI USA Momentum Factor ETF by 2.8% in the 3rd quarter. LifeSteps Financial Inc. now owns 1,677 shares of the company’s stock valued at $532,000 after acquiring an additional 46 shares during the period.

iShares MSCI USA Momentum Factor ETF Price Performance

Shares of BATS:MTUM opened at $303.50 on Thursday. The firm’s 50 day simple moving average is $307.02 and its 200 day simple moving average is $289.46. iShares MSCI USA Momentum Factor ETF has a fifty-two week low of $229.42 and a fifty-two week high of $345.59. The company has a market capitalization of $22.16 billion, a price-to-earnings ratio of 28.67 and a beta of 1.02.

iShares MSCI USA Momentum Factor ETF’s stock is going to split before the market opens on Thursday, November 5th. The 4-1 split was recently announced. The newly minted shares will be issued to shareholders after the market closes on Wednesday, November 4th.

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.