iShares MSCI USA Momentum Factor ETF (BATS:MTUM) Short Interest Down 58.2% in July

iShares MSCI USA Momentum Factor ETF (BATS:MTUM) was the target of a significant drop in short interest during the month of July. As of July 31st, there was short interest totaling 933,278 shares, a drop of 58.2% from the July 15th total of 2,235,327 shares. Approximately 1.3% of the shares of the company are short sold. Based on an average trading volume of 2,128,118 shares, the short-interest ratio is currently 0.4 days.

iShares MSCI USA Momentum Factor ETF Trading Up 0.4%

Shares of MTUM stock opened at $317.21 on Friday. The firm has a market capitalization of $23.16 billion, a P/E ratio of 28.67 and a beta of 1.02. iShares MSCI USA Momentum Factor ETF has a 1 year low of $229.42 and a 1 year high of $345.59. The firm’s fifty day simple moving average is $316.54 and its 200 day simple moving average is $285.30.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Mercer Global Advisors Inc. ADV raised its position in shares of iShares MSCI USA Momentum Factor ETF by 3.0% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 7,824,890 shares of the company’s stock valued at $1,958,649,000 after buying an additional 229,850 shares during the last quarter. LPL Financial LLC lifted its stake in shares of iShares MSCI USA Momentum Factor ETF by 24.7% in the fourth quarter. LPL Financial LLC now owns 3,291,857 shares of the company’s stock valued at $823,985,000 after buying an additional 652,414 shares during the period. Raymond James Financial Inc. grew its position in iShares MSCI USA Momentum Factor ETF by 5.0% during the fourth quarter. Raymond James Financial Inc. now owns 3,215,974 shares of the company’s stock worth $804,990,000 after buying an additional 152,723 shares in the last quarter. Corient Private Wealth LLC grew its position in iShares MSCI USA Momentum Factor ETF by 185.9% during the fourth quarter. Corient Private Wealth LLC now owns 2,048,917 shares of the company’s stock worth $512,864,000 after buying an additional 1,332,181 shares in the last quarter. Finally, State of Michigan Retirement System grew its position in iShares MSCI USA Momentum Factor ETF by 4.1% during the first quarter. State of Michigan Retirement System now owns 1,340,090 shares of the company’s stock worth $321,608,000 after buying an additional 52,800 shares in the last quarter.

iShares MSCI USA Momentum Factor ETF Company Profile

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.