iShares Morningstar Mid-Cap Growth ETF (NYSEARCA:IMCG) Hits New 12-Month High – Time to Buy?

Shares of iShares Morningstar Mid-Cap Growth ETF (NYSEARCA:IMCG) reached a new 52-week high during trading on Friday . The stock traded as high as $88.65 and last traded at $88.11, with a volume of 30069 shares changing hands. The stock had previously closed at $88.02.

iShares Morningstar Mid-Cap Growth ETF Stock Up 0.3%

The company has a market cap of $3.50 billion, a PE ratio of 28.77 and a beta of 1.14. The business has a 50-day simple moving average of $82.70 and a 200-day simple moving average of $82.00.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Commonwealth Equity Services LLC increased its stake in iShares Morningstar Mid-Cap Growth ETF by 1.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 623,801 shares of the company’s stock worth $51,607,000 after buying an additional 10,057 shares in the last quarter. Bouvel Investment Partners LLC purchased a new position in shares of iShares Morningstar Mid-Cap Growth ETF in the third quarter valued at approximately $2,537,000. Allegheny Financial Group boosted its stake in shares of iShares Morningstar Mid-Cap Growth ETF by 17.0% in the third quarter. Allegheny Financial Group now owns 149,820 shares of the company’s stock worth $12,395,000 after acquiring an additional 21,765 shares during the last quarter. Cornerstone Planning Group LLC increased its position in shares of iShares Morningstar Mid-Cap Growth ETF by 2.0% during the third quarter. Cornerstone Planning Group LLC now owns 361,000 shares of the company’s stock worth $29,432,000 after purchasing an additional 6,914 shares in the last quarter. Finally, Eagle Strategies LLC increased its position in shares of iShares Morningstar Mid-Cap Growth ETF by 8.5% during the fourth quarter. Eagle Strategies LLC now owns 150,387 shares of the company’s stock worth $12,007,000 after purchasing an additional 11,806 shares in the last quarter.

About iShares Morningstar Mid-Cap Growth ETF

The iShares Morningstar Mid-Cap Growth ETF (IMCG) is an exchange-traded fund that is based on the Morningstar US Mid Cap Broad Growth index. The fund tracks a market cap-weighted index of US mid-cap stocks companies selected based on their growth characteristics. IMCG was launched on Jun 28, 2004 and is managed by BlackRock.