iShares Morningstar Mid-Cap Value ETF (NASDAQ:IMCV) Reaches New 1-Year High – Should You Buy?

iShares Morningstar Mid-Cap Value ETF (NASDAQ:IMCV)’s share price reached a new 52-week high on Thursday . The company traded as high as $92.45 and last traded at $92.21, with a volume of 7102 shares trading hands. The stock had previously closed at $91.06.

iShares Morningstar Mid-Cap Value ETF Trading Up 0.4%

The company’s 50-day moving average price is $89.29 and its two-hundred day moving average price is $86.73. The company has a market cap of $1.06 billion, a P/E ratio of 16.35 and a beta of 0.86.

iShares Morningstar Mid-Cap Value ETF Increases Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada boosted its holdings in shares of iShares Morningstar Mid-Cap Value ETF by 3.2% during the 1st quarter. Royal Bank of Canada now owns 37,503 shares of the company’s stock worth $2,783,000 after buying an additional 1,168 shares during the period. Jane Street Group LLC boosted its holdings in iShares Morningstar Mid-Cap Value ETF by 19.3% during the first quarter. Jane Street Group LLC now owns 4,265 shares of the company’s stock valued at $316,000 after acquiring an additional 691 shares during the period. JPMorgan Chase & Co. grew its position in shares of iShares Morningstar Mid-Cap Value ETF by 95.9% in the second quarter. JPMorgan Chase & Co. now owns 18,151 shares of the company’s stock valued at $1,379,000 after purchasing an additional 8,884 shares during the last quarter. Baird Financial Group Inc. increased its stake in shares of iShares Morningstar Mid-Cap Value ETF by 21.1% in the second quarter. Baird Financial Group Inc. now owns 17,237 shares of the company’s stock worth $1,310,000 after purchasing an additional 3,008 shares during the period. Finally, Diversify Advisory Services LLC lifted its position in shares of iShares Morningstar Mid-Cap Value ETF by 10.0% during the 2nd quarter. Diversify Advisory Services LLC now owns 16,776 shares of the company’s stock worth $1,308,000 after purchasing an additional 1,532 shares during the last quarter.

iShares Morningstar Mid-Cap Value ETF Company Profile

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.