iShares MSCI USA Momentum Factor ETF (BATS:MTUM) Hits New 1-Year High – Time to Buy?

iShares MSCI USA Momentum Factor ETF (BATS:MTUM)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $213.32 and last traded at $213.85, with a volume of 1275471 shares trading hands. The stock had previously closed at $208.99.

iShares MSCI USA Momentum Factor ETF Stock Performance

The company has a 50 day moving average price of $212.86 and a 200 day moving average price of $203.36. The firm has a market cap of $11.58 billion, a price-to-earnings ratio of 18.53 and a beta of 1.10.

Hedge Funds Weigh In On iShares MSCI USA Momentum Factor ETF

Several hedge funds have recently bought and sold shares of MTUM. Bank of Montreal Can lifted its stake in iShares MSCI USA Momentum Factor ETF by 91.7% during the 2nd quarter. Bank of Montreal Can now owns 2,573 shares of the company’s stock worth $502,000 after acquiring an additional 1,231 shares in the last quarter. Marshall Wace LLP lifted its stake in iShares MSCI USA Momentum Factor ETF by 253.6% during the 2nd quarter. Marshall Wace LLP now owns 24,753 shares of the company’s stock worth $4,824,000 after acquiring an additional 17,753 shares in the last quarter. AQR Capital Management LLC acquired a new position in iShares MSCI USA Momentum Factor ETF during the 2nd quarter worth about $253,000. Northwestern Mutual Wealth Management Co. lifted its stake in iShares MSCI USA Momentum Factor ETF by 2.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 203,140 shares of the company’s stock worth $39,586,000 after acquiring an additional 4,802 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its stake in iShares MSCI USA Momentum Factor ETF by 79.0% during the 2nd quarter. NewEdge Advisors LLC now owns 26,354 shares of the company’s stock worth $5,136,000 after acquiring an additional 11,633 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.