Cornerstone Financial Management LLC Invests $1.48 Million in iShares Russell Mid-Cap Growth ETF $IWP

Cornerstone Financial Management LLC acquired a new position in iShares Russell Mid-Cap Growth ETF (NYSEARCA:IWP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,808 shares of the company’s stock, valued at approximately $1,480,000. iShares Russell Mid-Cap Growth ETF makes up about 1.4% of Cornerstone Financial Management LLC’s investment portfolio, making the stock its 20th biggest position.

A number of other institutional investors have also made changes to their positions in IWP. American Wealth Advisors LLC bought a new stake in iShares Russell Mid-Cap Growth ETF during the third quarter worth $1,954,000. Concurrent Investment Advisors LLC raised its position in iShares Russell Mid-Cap Growth ETF by 29.8% during the fourth quarter. Concurrent Investment Advisors LLC now owns 16,403 shares of the company’s stock worth $2,246,000 after acquiring an additional 3,769 shares in the last quarter. AE Wealth Management LLC raised its position in iShares Russell Mid-Cap Growth ETF by 6.7% during the fourth quarter. AE Wealth Management LLC now owns 95,214 shares of the company’s stock worth $13,039,000 after acquiring an additional 5,971 shares in the last quarter. Johnson Financial Group Inc. raised its position in iShares Russell Mid-Cap Growth ETF by 29.7% during the third quarter. Johnson Financial Group Inc. now owns 46,403 shares of the company’s stock worth $6,608,000 after acquiring an additional 10,615 shares in the last quarter. Finally, Congress Asset Management Co. raised its position in iShares Russell Mid-Cap Growth ETF by 118.3% during the fourth quarter. Congress Asset Management Co. now owns 458,580 shares of the company’s stock worth $62,798,000 after acquiring an additional 248,474 shares in the last quarter. Institutional investors own 74.49% of the company’s stock.

iShares Russell Mid-Cap Growth ETF Trading Up 0.1%

NYSEARCA IWP opened at $140.80 on Friday. The firm’s fifty day moving average price is $136.97 and its two-hundred day moving average price is $136.53. iShares Russell Mid-Cap Growth ETF has a 1 year low of $122.94 and a 1 year high of $145.60. The firm has a market capitalization of $20.23 billion, a P/E ratio of 30.48 and a beta of 1.13.

About iShares Russell Mid-Cap Growth ETF

iShares Russell Mid-Cap Growth ETF, formerly iShares Russell Midcap Growth Index Fund (the Growth Fund), is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Russell Midcap Growth Index (the Growth Index). The Index measures the performance of the mid-capitalization growth sector of the United States equity market. It is a subset of the Russell Midcap Index and measures the performance of equity securities of Russell Midcap Index issuers with relatively higher price-to-book ratios and higher forecasted growth.