Pinnacle Associates Ltd. Sells 7,311 Shares of iShares MSCI USA Quality Factor ETF $QUAL

Pinnacle Associates Ltd. reduced its holdings in shares of iShares MSCI USA Quality Factor ETF (BATS:QUAL) by 1.7% in the third quarter, HoldingsChannel reports. The fund owned 426,816 shares of the company’s stock after selling 7,311 shares during the period. iShares MSCI USA Quality Factor ETF accounts for 1.1% of Pinnacle Associates Ltd.’s portfolio, making the stock its 18th biggest holding. Pinnacle Associates Ltd.’s holdings in iShares MSCI USA Quality Factor ETF were worth $94,856,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Bank of America Corp DE boosted its stake in iShares MSCI USA Quality Factor ETF by 36.9% during the first quarter. Bank of America Corp DE now owns 8,741,641 shares of the company’s stock worth $1,676,734,000 after acquiring an additional 2,357,971 shares in the last quarter. Orgel Wealth Management LLC grew its holdings in iShares MSCI USA Quality Factor ETF by 2.0% in the second quarter. Orgel Wealth Management LLC now owns 3,358,210 shares of the company’s stock worth $736,892,000 after purchasing an additional 65,534 shares during the period. Facet Wealth Inc. grew its holdings in iShares MSCI USA Quality Factor ETF by 11.3% in the second quarter. Facet Wealth Inc. now owns 3,300,180 shares of the company’s stock worth $724,159,000 after purchasing an additional 334,234 shares during the period. Royal Bank of Canada increased its stake in shares of iShares MSCI USA Quality Factor ETF by 2.9% during the first quarter. Royal Bank of Canada now owns 1,777,079 shares of the company’s stock valued at $340,861,000 after purchasing an additional 49,616 shares in the last quarter. Finally, Cetera Investment Advisers increased its stake in shares of iShares MSCI USA Quality Factor ETF by 2.9% during the first quarter. Cetera Investment Advisers now owns 1,574,045 shares of the company’s stock valued at $301,918,000 after purchasing an additional 43,742 shares in the last quarter.

iShares MSCI USA Quality Factor ETF Stock Performance

QUAL stock opened at $225.69 on Wednesday. The firm has a 50 day moving average price of $223.38 and a 200-day moving average price of $216.76. iShares MSCI USA Quality Factor ETF has a 52-week low of $185.88 and a 52-week high of $228.13. The firm has a market capitalization of $65.44 billion, a price-to-earnings ratio of 25.59 and a beta of 1.05.

iShares MSCI USA Quality Factor ETF shares are set to split before the market opens on Thursday, November 5th. The 4-1 split was recently announced. The newly issued shares will be payable to shareholders after the closing bell on Wednesday, November 4th.

About iShares MSCI USA Quality Factor ETF

The iShares MSCI USA Quality Factor ETF (QUAL) is an exchange-traded fund that is based on the MSCI USA Sector Neutral Quality index. The fund tracks an index of US large- and mid-cap stocks, selected and weighted by high ROE, stable earnings growth and low debt\u002Fequity, relative to peers in each sector. QUAL was launched on Jul 18, 2013 and is managed by BlackRock.