iShares Morningstar Mid-Cap ETF (NYSEARCA:IMCB) Sees Strong Trading Volume – Still a Buy?

iShares Morningstar Mid-Cap ETF (NYSEARCA:IMCB) saw unusually-high trading volume on Tuesday . Approximately 40,418 shares changed hands during mid-day trading, an increase of 52% from the previous session’s volume of 26,505 shares.The stock last traded at $80.30 and had previously closed at $80.92.

iShares Morningstar Mid-Cap ETF Stock Down 0.6 %

The company has a market cap of $961.02 million, a price-to-earnings ratio of 53.59 and a beta of 0.98. The company has a fifty day simple moving average of $78.39 and a two-hundred day simple moving average of $74.23.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IMCB. Wealth Enhancement Advisory Services LLC increased its stake in iShares Morningstar Mid-Cap ETF by 2.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 25,817 shares of the company’s stock valued at $1,810,000 after purchasing an additional 578 shares during the last quarter. Portside Wealth Group LLC purchased a new position in shares of iShares Morningstar Mid-Cap ETF during the 2nd quarter worth about $1,588,000. Means Investment CO. Inc. boosted its position in shares of iShares Morningstar Mid-Cap ETF by 9.9% in the second quarter. Means Investment CO. Inc. now owns 130,372 shares of the company’s stock worth $9,138,000 after acquiring an additional 11,691 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in iShares Morningstar Mid-Cap ETF by 19.7% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 63,450 shares of the company’s stock worth $4,447,000 after purchasing an additional 10,464 shares during the last quarter. Finally, Avion Wealth purchased a new position in iShares Morningstar Mid-Cap ETF during the second quarter worth approximately $45,000. 22.26% of the stock is currently owned by hedge funds and other institutional investors.

About iShares Morningstar Mid-Cap ETF

The iShares Morningstar Mid-Cap ETF (IMCB) is an exchange-traded fund that is based on the Morningstar US Mid Cap index. The fund tracks a market cap-weighted index consisting of US mid-cap stocks with both growth and value characteristics. IMCB was launched on Jun 28, 2004 and is managed by BlackRock.