iShares Morningstar Mid-Cap Growth ETF (NYSEARCA:IMCG) Hits New 12-Month High – Still a Buy?

iShares Morningstar Mid-Cap Growth ETF (NYSEARCA:IMCG) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $83.41 and last traded at $83.40, with a volume of 19447 shares. The stock had previously closed at $83.00.

iShares Morningstar Mid-Cap Growth ETF Price Performance

The stock’s fifty day simple moving average is $81.78 and its 200-day simple moving average is $77.61. The firm has a market cap of $3.21 billion, a PE ratio of 28.77 and a beta of 1.08.

Institutional Investors Weigh In On iShares Morningstar Mid-Cap Growth ETF

A number of institutional investors and hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. lifted its holdings in shares of iShares Morningstar Mid-Cap Growth ETF by 29.3% during the second quarter. Russell Investments Group Ltd. now owns 613 shares of the company’s stock worth $49,000 after purchasing an additional 139 shares during the period. BlueChip Wealth Advisors LLC raised its holdings in shares of iShares Morningstar Mid-Cap Growth ETF by 2.7% during the second quarter. BlueChip Wealth Advisors LLC now owns 5,689 shares of the company’s stock worth $456,000 after purchasing an additional 150 shares during the last quarter. IFG Advisory LLC raised its holdings in shares of iShares Morningstar Mid-Cap Growth ETF by 3.3% during the second quarter. IFG Advisory LLC now owns 4,985 shares of the company’s stock worth $400,000 after purchasing an additional 159 shares during the last quarter. Financial Perspectives Inc raised its holdings in shares of iShares Morningstar Mid-Cap Growth ETF by 11.7% during the first quarter. Financial Perspectives Inc now owns 1,553 shares of the company’s stock worth $111,000 after purchasing an additional 163 shares during the last quarter. Finally, Compass Planning Associates Inc raised its holdings in shares of iShares Morningstar Mid-Cap Growth ETF by 74.8% during the first quarter. Compass Planning Associates Inc now owns 500 shares of the company’s stock worth $36,000 after purchasing an additional 214 shares during the last quarter.

About iShares Morningstar Mid-Cap Growth ETF

The iShares Morningstar Mid-Cap Growth ETF (IMCG) is an exchange-traded fund that is based on the Morningstar US Mid Cap Broad Growth index. The fund tracks a market cap-weighted index of US mid-cap stocks companies selected based on their growth characteristics. IMCG was launched on Jun 28, 2004 and is managed by BlackRock.