Envestnet Portfolio Solutions Inc. Cuts Position in iShares MSCI USA Momentum Factor ETF $MTUM

Envestnet Portfolio Solutions Inc. trimmed its position in shares of iShares MSCI USA Momentum Factor ETF (BATS:MTUM) by 6.2% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 474,901 shares of the company’s stock after selling 31,143 shares during the period. Envestnet Portfolio Solutions Inc. owned approximately 0.65% of iShares MSCI USA Momentum Factor ETF worth $114,128,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MTUM. Mullooly Asset Management Inc. purchased a new stake in shares of iShares MSCI USA Momentum Factor ETF in the 1st quarter valued at $2,162,511,000. CHURCHILL MANAGEMENT Corp acquired a new position in iShares MSCI USA Momentum Factor ETF in the 2nd quarter valued at about $220,286,000. Orgel Wealth Management LLC purchased a new stake in iShares MSCI USA Momentum Factor ETF during the second quarter worth about $158,559,000. Park Avenue Securities LLC purchased a new stake in iShares MSCI USA Momentum Factor ETF during the second quarter worth about $109,923,000. Finally, BNP Paribas Financial Markets lifted its position in shares of iShares MSCI USA Momentum Factor ETF by 102.6% during the first quarter. BNP Paribas Financial Markets now owns 642,494 shares of the company’s stock worth $129,867,000 after purchasing an additional 325,369 shares in the last quarter.

iShares MSCI USA Momentum Factor ETF Stock Performance

Shares of MTUM stock opened at $250.07 on Monday. The stock has a market capitalization of $18.26 billion, a P/E ratio of 28.67 and a beta of 1.02. The company has a 50 day moving average price of $249.19 and a 200 day moving average price of $231.50. iShares MSCI USA Momentum Factor ETF has a fifty-two week low of $168.49 and a fifty-two week high of $240.99.

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.