iShares Morningstar Mid-Cap Growth ETF (NYSEARCA:IMCG) Reaches New 52-Week High – Still a 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 $78.97 and last traded at $78.90, with a volume of 34151 shares trading hands. The stock had previously closed at $78.29.

iShares Morningstar Mid-Cap Growth ETF Stock Performance

The stock has a market capitalization of $2.24 billion, a PE ratio of 27.60 and a beta of 1.13. The stock’s 50 day moving average is $73.38 and its two-hundred day moving average is $70.13.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of IMCG. Northwestern Mutual Wealth Management Co. lifted its stake in iShares Morningstar Mid-Cap Growth ETF by 3.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 721,817 shares of the company’s stock worth $48,904,000 after purchasing an additional 23,442 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in iShares Morningstar Mid-Cap Growth ETF by 4.6% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 652,301 shares of the company’s stock worth $44,193,000 after purchasing an additional 28,973 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in iShares Morningstar Mid-Cap Growth ETF by 3.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 564,291 shares of the company’s stock worth $38,231,000 after purchasing an additional 17,290 shares in the last quarter. Avior Wealth Management LLC lifted its stake in iShares Morningstar Mid-Cap Growth ETF by 4.7% in the 3rd quarter. Avior Wealth Management LLC now owns 547,910 shares of the company’s stock worth $39,969,000 after purchasing an additional 24,367 shares in the last quarter. Finally, Cornerstone Planning Group LLC increased its holdings in shares of iShares Morningstar Mid-Cap Growth ETF by 6.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 310,146 shares of the company’s stock worth $22,982,000 after buying an additional 17,527 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.