iShares MSCI USA Quality GARP ETF (BATS:GARP) Sets New 12-Month High – Still a Buy?

Shares of iShares MSCI USA Quality GARP ETF (BATS:GARP) reached a new 52-week high during trading on Wednesday. The stock traded as high as $85.85 and last traded at $85.62, with a volume of 46598 shares trading hands. The stock had previously closed at $85.33.

iShares MSCI USA Quality GARP ETF Stock Up 0.6%

The stock’s 50 day moving average price is $82.71 and its two-hundred day moving average price is $77.76. The stock has a market cap of $721.17 million, a price-to-earnings ratio of 29.61 and a beta of 1.14.

Institutional Investors Weigh In On iShares MSCI USA Quality GARP ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Resonant Capital Advisors LLC acquired a new position in shares of iShares MSCI USA Quality GARP ETF in the 1st quarter valued at about $50,190,000. Envestnet Asset Management Inc. grew its holdings in iShares MSCI USA Quality GARP ETF by 8.6% during the second quarter. Envestnet Asset Management Inc. now owns 545,252 shares of the company’s stock worth $45,011,000 after acquiring an additional 43,119 shares during the period. Cetera Investment Advisers raised its position in iShares MSCI USA Quality GARP ETF by 25.3% during the first quarter. Cetera Investment Advisers now owns 612,564 shares of the company’s stock valued at $39,186,000 after acquiring an additional 123,760 shares in the last quarter. Bank of America Corp DE raised its position in iShares MSCI USA Quality GARP ETF by 52.0% during the first quarter. Bank of America Corp DE now owns 546,192 shares of the company’s stock valued at $34,940,000 after acquiring an additional 186,930 shares in the last quarter. Finally, Capital Analysts LLC raised its position in iShares MSCI USA Quality GARP ETF by 1.3% during the second quarter. Capital Analysts LLC now owns 335,370 shares of the company’s stock valued at $27,685,000 after acquiring an additional 4,353 shares in the last quarter.

iShares MSCI USA Quality GARP ETF Company Profile

The iShares MSCI USA Quality GARP ETF (GARP) is an exchange-traded fund that is based on the MSCI USA Quality GARP Select index. The fund tracks an index of US large- and mid-cap growth stocks with perceived quality and value characteristics. GARP was launched on Jun 14, 2020 and is issued by BlackRock.