Pinnacle Associates Ltd. Acquires 4,078 Shares of iShares MSCI USA Momentum Factor ETF $MTUM

Pinnacle Associates Ltd. grew its holdings in shares of iShares MSCI USA Momentum Factor ETF (BATS:MTUM) by 126.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,298 shares of the company’s stock after buying an additional 4,078 shares during the quarter. Pinnacle Associates Ltd.’s holdings in iShares MSCI USA Momentum Factor ETF were worth $1,872,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Caprock Group LLC bought a new stake in iShares MSCI USA Momentum Factor ETF during the third quarter worth $3,283,000. Acropolis Investment Management LLC grew its stake in iShares MSCI USA Momentum Factor ETF by 4.5% in the 3rd quarter. Acropolis Investment Management LLC now owns 134,659 shares of the company’s stock valued at $32,361,000 after purchasing an additional 5,813 shares during the period. Strategic Blueprint LLC increased its position in shares of iShares MSCI USA Momentum Factor ETF by 18.9% during the 3rd quarter. Strategic Blueprint LLC now owns 30,074 shares of the company’s stock valued at $7,713,000 after purchasing an additional 4,790 shares during the last quarter. Advocacy Wealth Management Services LLC increased its position in shares of iShares MSCI USA Momentum Factor ETF by 5.7% during the 2nd quarter. Advocacy Wealth Management Services LLC now owns 88,416 shares of the company’s stock valued at $21,248,000 after purchasing an additional 4,752 shares during the last quarter. Finally, Beacon Financial Group raised its stake in shares of iShares MSCI USA Momentum Factor ETF by 11.0% during the 3rd quarter. Beacon Financial Group now owns 22,212 shares of the company’s stock worth $5,696,000 after purchasing an additional 2,203 shares during the period.

iShares MSCI USA Momentum Factor ETF Stock Performance

Shares of BATS:MTUM opened at $248.28 on Wednesday. The company has a market capitalization of $18.12 billion, a P/E ratio of 28.67 and a beta of 1.02. The company’s 50-day moving average is $253.81 and its 200 day moving average is $251.91. iShares MSCI USA Momentum Factor ETF has a fifty-two week low of $171.51 and a fifty-two week high of $262.10.

iShares MSCI USA Momentum Factor ETF Company 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. MTUM was launched on Apr 16, 2013 and is managed by BlackRock.