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

iShares Morningstar Mid-Cap Growth ETF (NYSEARCA:IMCG)’s share price hit a new 52-week high on Wednesday . The company traded as high as $73.45 and last traded at $73.45, with a volume of 23951 shares trading hands. The stock had previously closed at $72.75.

iShares Morningstar Mid-Cap Growth ETF Stock Up 0.7 %

The business’s 50 day simple moving average is $70.13 and its two-hundred day simple moving average is $68.92. The stock has a market cap of $2.12 billion, a P/E ratio of 27.60 and a beta of 1.13.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. M&R Capital Management Inc. raised its position in iShares Morningstar Mid-Cap Growth ETF by 253.0% in the first quarter. M&R Capital Management Inc. now owns 406 shares of the company’s stock valued at $29,000 after purchasing an additional 291 shares during the last quarter. Concord Wealth Partners acquired a new position in shares of iShares Morningstar Mid-Cap Growth ETF in the first quarter valued at approximately $69,000. Sunbelt Securities Inc. raised its holdings in iShares Morningstar Mid-Cap Growth ETF by 300.7% in the 1st quarter. Sunbelt Securities Inc. now owns 1,098 shares of the company’s stock valued at $78,000 after buying an additional 824 shares during the last quarter. Beacon Capital Management LLC acquired a new stake in iShares Morningstar Mid-Cap Growth ETF during the 1st quarter worth approximately $109,000. Finally, Strategic Financial Concepts LLC grew its holdings in iShares Morningstar Mid-Cap Growth ETF by 6,375.5% during the 2nd quarter. Strategic Financial Concepts LLC now owns 218,613 shares of the company’s stock worth $148,000 after acquiring an additional 215,237 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.