iShares Morningstar Mid-Cap ETF (NYSEARCA:IMCB) Reaches New 12-Month High – Here’s Why

iShares Morningstar Mid-Cap ETF (NYSEARCA:IMCB) shares reached a new 52-week high on Thursday . The stock traded as high as $88.11 and last traded at $87.79, with a volume of 35205 shares. The stock had previously closed at $87.59.

iShares Morningstar Mid-Cap ETF Stock Up 0.2%

The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 58.14 and a beta of 1.04. The business’s 50 day simple moving average is $84.80 and its 200-day simple moving average is $83.03.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in IMCB. Royal Bank of Canada increased its holdings in iShares Morningstar Mid-Cap ETF by 0.8% in the 1st quarter. Royal Bank of Canada now owns 46,267 shares of the company’s stock worth $3,428,000 after purchasing an additional 369 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of iShares Morningstar Mid-Cap ETF by 4.6% in the second quarter. Janney Montgomery Scott LLC now owns 11,659 shares of the company’s stock valued at $929,000 after buying an additional 510 shares during the period. Ameritas Advisory Services LLC acquired a new position in shares of iShares Morningstar Mid-Cap ETF in the second quarter valued at approximately $29,000. CWM LLC raised its holdings in iShares Morningstar Mid-Cap ETF by 3.8% in the 2nd quarter. CWM LLC now owns 13,933 shares of the company’s stock valued at $1,110,000 after buying an additional 515 shares during the last quarter. Finally, Goldstein Advisors LLC boosted its position in iShares Morningstar Mid-Cap ETF by 4.6% during the 2nd quarter. Goldstein Advisors LLC now owns 39,303 shares of the company’s stock worth $3,131,000 after buying an additional 1,729 shares during the period. 22.26% of the stock is currently owned by institutional investors and hedge funds.

iShares Morningstar Mid-Cap ETF Company Profile

The iShares Morningstar Mid-Cap ETF (IMCB) is an exchange-traded fund that is based on the Morningstar US Mid Cap index. The fund tracks a market cap-weighted index consisting of US mid-cap stocks with both growth and value characteristics. IMCB was launched on Jun 28, 2004 and is managed by BlackRock.