iShares Morningstar Mid-Cap ETF (NYSEARCA:IMCB) Sets New 1-Year High – Still a Buy?

iShares Morningstar Mid-Cap ETF (NYSEARCA:IMCB)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $96.81 and last traded at $96.65, with a volume of 10488 shares changing hands. The stock had previously closed at $95.53.

iShares Morningstar Mid-Cap ETF Price Performance

The firm has a market capitalization of $1.65 billion, a P/E ratio of 63.65 and a beta of 0.99. The firm has a 50-day moving average price of $91.98 and a two-hundred day moving average price of $87.58.

Hedge Funds Weigh In On iShares Morningstar Mid-Cap ETF

A number of hedge funds have recently added to or reduced their stakes in IMCB. Royal Bank of Canada raised its stake in shares of iShares Morningstar Mid-Cap ETF by 0.8% during the first quarter. Royal Bank of Canada now owns 46,267 shares of the company’s stock valued at $3,428,000 after acquiring an additional 369 shares in the last quarter. Creative Planning increased its holdings in iShares Morningstar Mid-Cap ETF by 13.9% during the 2nd quarter. Creative Planning now owns 4,592 shares of the company’s stock worth $366,000 after purchasing an additional 562 shares during the period. JPMorgan Chase & Co. increased its holdings in iShares Morningstar Mid-Cap ETF by 4.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 25,892 shares of the company’s stock worth $2,063,000 after purchasing an additional 993 shares during the period. Bank of America Corp DE raised its position in iShares Morningstar Mid-Cap ETF by 3.3% during the 2nd quarter. Bank of America Corp DE now owns 92,496 shares of the company’s stock valued at $7,368,000 after purchasing an additional 2,983 shares in the last quarter. Finally, MML Investors Services LLC raised its position in iShares Morningstar Mid-Cap ETF by 1.1% during the 2nd quarter. MML Investors Services LLC now owns 121,599 shares of the company’s stock valued at $9,687,000 after purchasing an additional 1,298 shares in the last quarter. 22.26% of the stock is currently owned by institutional investors.

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.