Summit Financial LLC Makes New $340,000 Investment in iShares MSCI USA Momentum Factor ETF $MTUM

Summit Financial LLC bought a new stake in shares of iShares MSCI USA Momentum Factor ETF (BATS:MTUM) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,681 shares of the company’s stock, valued at approximately $340,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Cullen Frost Bankers Inc. purchased a new position in iShares MSCI USA Momentum Factor ETF during the 1st quarter valued at about $26,000. Mascagni Wealth Management Inc. bought a new position in shares of iShares MSCI USA Momentum Factor ETF during the fourth quarter valued at approximately $29,000. Compass Wealth Management LLC purchased a new position in shares of iShares MSCI USA Momentum Factor ETF during the first quarter valued at approximately $30,000. Cornerstone Planning Group LLC boosted its position in shares of iShares MSCI USA Momentum Factor ETF by 140.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 149 shares of the company’s stock worth $30,000 after purchasing an additional 87 shares in the last quarter. Finally, Halbert Hargrove Global Advisors LLC bought a new stake in shares of iShares MSCI USA Momentum Factor ETF in the 1st quarter worth approximately $33,000.

iShares MSCI USA Momentum Factor ETF Stock Up 16.2%

MTUM stock opened at $242.8850 on Tuesday. The business has a 50 day moving average of $239.60 and a 200 day moving average of $222.70. The firm has a market cap of $17.73 billion, a PE ratio of 28.67 and a beta of 1.02. iShares MSCI USA Momentum Factor ETF has a twelve month low of $168.49 and a twelve month high of $240.99.

About iShares MSCI USA Momentum Factor ETF

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.