MLG Wealth Management DBA Pine Grove Financial Group Cuts Position in iShares MSCI USA Momentum Factor ETF $MTUM

MLG Wealth Management DBA Pine Grove Financial Group reduced its position in iShares MSCI USA Momentum Factor ETF (BATS:MTUM) by 19.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,709 shares of the company’s stock after selling 8,269 shares during the period. iShares MSCI USA Momentum Factor ETF makes up approximately 1.2% of MLG Wealth Management DBA Pine Grove Financial Group’s holdings, making the stock its 25th largest holding. MLG Wealth Management DBA Pine Grove Financial Group’s holdings in iShares MSCI USA Momentum Factor ETF were worth $11,913,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Corient Private Wealth LLC raised its holdings in iShares MSCI USA Momentum Factor ETF by 185.9% in the fourth quarter. Corient Private Wealth LLC now owns 2,048,917 shares of the company’s stock valued at $512,864,000 after buying an additional 1,332,181 shares during the period. LPL Financial LLC grew its stake in iShares MSCI USA Momentum Factor ETF by 24.7% during the fourth quarter. LPL Financial LLC now owns 3,291,857 shares of the company’s stock worth $823,985,000 after buying an additional 652,414 shares during the period. JPMorgan Chase & Co. increased its position in shares of iShares MSCI USA Momentum Factor ETF by 32.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,151,084 shares of the company’s stock worth $288,128,000 after acquiring an additional 280,192 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of iShares MSCI USA Momentum Factor ETF by 55.3% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 721,042 shares of the company’s stock worth $180,484,000 after acquiring an additional 256,639 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its stake in shares of iShares MSCI USA Momentum Factor ETF by 3.0% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 7,824,890 shares of the company’s stock valued at $1,958,649,000 after acquiring an additional 229,850 shares during the period.

iShares MSCI USA Momentum Factor ETF Stock Performance

BATS:MTUM opened at $304.86 on Tuesday. The firm’s fifty day simple moving average is $308.93 and its 200 day simple moving average is $291.09. iShares MSCI USA Momentum Factor ETF has a twelve month low of $229.42 and a twelve month high of $345.59. The firm has a market capitalization of $22.25 billion, a price-to-earnings ratio of 28.67 and a beta of 1.02.

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.