Northbridge Financial Group LLC Invests $2.38 Million in iShares MSCI USA Momentum Factor ETF $MTUM

Northbridge Financial Group LLC acquired a new position in shares of iShares MSCI USA Momentum Factor ETF (BATS:MTUM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,510 shares of the company’s stock, valued at approximately $2,381,000. iShares MSCI USA Momentum Factor ETF makes up about 1.1% of Northbridge Financial Group LLC’s investment portfolio, making the stock its 20th biggest position.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Raymond James Financial Inc. boosted its position in shares of iShares MSCI USA Momentum Factor ETF by 4.1% during the 3rd quarter. Raymond James Financial Inc. now owns 3,063,251 shares of the company’s stock worth $785,571,000 after purchasing an additional 120,851 shares in the last quarter. Assetmark Inc. boosted its position in shares of iShares MSCI USA Momentum Factor ETF by 2.5% during the 4th quarter. Assetmark Inc. now owns 1,502,409 shares of the company’s stock worth $376,068,000 after purchasing an additional 37,278 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of iShares MSCI USA Momentum Factor ETF by 7.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,321,883 shares of the company’s stock worth $339,023,000 after purchasing an additional 90,841 shares in the last quarter. State of Michigan Retirement System boosted its position in shares of iShares MSCI USA Momentum Factor ETF by 5.2% during the 4th quarter. State of Michigan Retirement System now owns 1,287,290 shares of the company’s stock worth $322,222,000 after purchasing an additional 63,800 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in shares of iShares MSCI USA Momentum Factor ETF by 9.6% during the 4th quarter. Blue Trust Inc. now owns 1,242,390 shares of the company’s stock worth $310,983,000 after purchasing an additional 108,825 shares in the last quarter.

iShares MSCI USA Momentum Factor ETF Stock Performance

Shares of BATS MTUM opened at $292.59 on Wednesday. iShares MSCI USA Momentum Factor ETF has a fifty-two week low of $223.47 and a fifty-two week high of $307.96. The stock has a market cap of $21.36 billion, a price-to-earnings ratio of 28.67 and a beta of 1.02. The firm’s 50-day simple moving average is $266.09 and its 200 day simple moving average is $256.85.

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. MTUM was launched on Apr 16, 2013 and is managed by BlackRock.