iShares Morningstar Mid-Cap Value ETF (NASDAQ:IMCV) Reaches New 1-Year High – Here’s Why

iShares Morningstar Mid-Cap Value ETF (NASDAQ:IMCV)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $95.68 and last traded at $95.68, with a volume of 1486 shares. The stock had previously closed at $95.06.

iShares Morningstar Mid-Cap Value ETF Trading Up 0.4%

The stock has a 50 day simple moving average of $91.46 and a 200 day simple moving average of $88.36. The stock has a market cap of $1.14 billion, a P/E ratio of 16.35 and a beta of 0.86.

iShares Morningstar Mid-Cap Value ETF Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 15th were issued a dividend of $0.418 per share. This is an increase from iShares Morningstar Mid-Cap Value ETF’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.67 annualized dividend and a dividend yield of 1.8%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Rodgers & Associates LTD lifted its position in iShares Morningstar Mid-Cap Value ETF by 6.0% during the fourth quarter. Rodgers & Associates LTD now owns 111,456 shares of the company’s stock worth $9,177,000 after purchasing an additional 6,306 shares during the period. UBS Group AG grew its stake in iShares Morningstar Mid-Cap Value ETF by 3.1% during the fourth quarter. UBS Group AG now owns 193,463 shares of the company’s stock worth $15,929,000 after buying an additional 5,726 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in iShares Morningstar Mid-Cap Value ETF by 105.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 97,338 shares of the company’s stock worth $8,015,000 after buying an additional 49,880 shares in the last quarter. Sentinel Advisory Group LLC bought a new position in iShares Morningstar Mid-Cap Value ETF in the 1st quarter valued at about $866,000. Finally, Kestra Advisory Services LLC increased its holdings in iShares Morningstar Mid-Cap Value ETF by 200.1% in the 1st quarter. Kestra Advisory Services LLC now owns 25,306 shares of the company’s stock valued at $2,146,000 after buying an additional 16,874 shares during the period.

About iShares Morningstar Mid-Cap Value ETF

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