Palumbo Wealth Management LLC Invests $714,000 in iShares MSCI USA Momentum Factor ETF $MTUM

Palumbo Wealth Management LLC purchased a new position in iShares MSCI USA Momentum Factor ETF (BATS:MTUM) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,852 shares of the company’s stock, valued at approximately $714,000.

A number of other large investors also recently modified their holdings of the business. Raymond James Financial Inc. lifted its position in shares of iShares MSCI USA Momentum Factor ETF by 4.1% in the 3rd quarter. Raymond James Financial Inc. now owns 3,063,251 shares of the company’s stock worth $785,571,000 after buying an additional 120,851 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of iShares MSCI USA Momentum Factor ETF by 7.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,321,883 shares of the company’s stock worth $339,023,000 after buying an additional 90,841 shares during the last quarter. Blue Trust Inc. lifted its position in shares of iShares MSCI USA Momentum Factor ETF by 9.6% in the 4th quarter. Blue Trust Inc. now owns 1,242,390 shares of the company’s stock worth $310,983,000 after buying an additional 108,825 shares during the last quarter. Bank of America Corp DE lifted its position in shares of iShares MSCI USA Momentum Factor ETF by 8.3% in the 3rd quarter. Bank of America Corp DE now owns 1,239,000 shares of the company’s stock worth $317,742,000 after buying an additional 94,881 shares during the last quarter. Finally, State of Michigan Retirement System lifted its position in shares of iShares MSCI USA Momentum Factor ETF by 1.4% in the 3rd quarter. State of Michigan Retirement System now owns 1,223,490 shares of the company’s stock worth $313,764,000 after buying an additional 17,400 shares during the last quarter.

iShares MSCI USA Momentum Factor ETF Stock Performance

iShares MSCI USA Momentum Factor ETF stock opened at $249.28 on Wednesday. The firm’s 50-day moving average is $249.08 and its 200-day moving average is $251.28. iShares MSCI USA Momentum Factor ETF has a 1 year low of $178.11 and a 1 year high of $262.10. The company has a market cap of $18.20 billion, a P/E ratio of 28.67 and a beta of 1.02.

About iShares MSCI USA Momentum Factor ETF

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.