Shares of the iShares Morningstar Mid-Cap Growth ETF (NYSEARCA:IMCG) achieved a new 52-week high on Friday, trading at $84.17 before closing at $83.8650. The trading volume reached 25,313 shares, a notable increase compared to its previous close of $83.22.
The performance of the fund has shown significant upward momentum. The 50-day moving average stands at $82.09, while the 200-day moving average is at $81.74, indicating a strong trend over these time frames. With a market capitalization of $3.25 billion, the ETF has a price-to-earnings (P/E) ratio of 28.77 and a beta of 1.12, suggesting a relatively higher volatility compared to the broader market.
Institutional Investment Activity
Recent activity among institutional investors has highlighted growing interest in the iShares Morningstar Mid-Cap Growth ETF. For instance, Financial Consulate Inc. acquired a new position in the ETF valued at approximately $25,000 in the third quarter. Similarly, Godfrey Financial Associates Inc. made a comparable investment during the fourth quarter for the same amount.
Furthermore, Quaker Wealth Management LLC significantly increased its holdings in the ETF, boosting its stake by 200.3% in the second quarter. Following this acquisition, Quaker now owns 336 shares worth approximately $27,000. Other notable institutional transactions include Kohmann Bosshard Financial Services LLC, which invested $29,000, and Dagco Inc., which purchased shares valued at $30,000.
Fund Overview and Management
The iShares Morningstar Mid-Cap Growth ETF is designed to track the performance of the Morningstar US Mid Cap Broad Growth Index. This index comprises mid-cap U.S. stocks selected based on their growth characteristics, making the ETF a popular choice for investors seeking exposure to potential growth opportunities in this segment.
Launched on June 28, 2004, the fund is managed by BlackRock, a leading investment management firm with a strong reputation in the ETF market. The combination of strategic management and robust performance metrics has positioned the iShares Morningstar Mid-Cap Growth ETF as an attractive option for investors looking to diversify their portfolios with mid-cap growth stocks.
For those interested in staying updated on the latest news and analyst ratings concerning the iShares Morningstar Mid-Cap Growth ETF, MarketBeat offers a free daily newsletter that summarizes key developments in the market.
