Elmwood Wealth Management Inc. Invests $633,000 in iShares MSCI USA Momentum Factor ETF $MTUM

Elmwood Wealth Management Inc. acquired a new stake in iShares MSCI USA Momentum Factor ETF (BATS:MTUM) in the fourth quarter, Holdings Channel.com reports. The fund acquired 2,530 shares of the company’s stock, valued at approximately $633,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. lifted its stake in 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 acquiring an additional 120,851 shares in the last quarter. Ameriprise Financial Inc. grew its position in iShares MSCI USA Momentum Factor ETF by 7.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,321,883 shares of the company’s stock valued at $339,023,000 after acquiring an additional 90,841 shares in the last quarter. Bank of America Corp DE grew its position in iShares MSCI USA Momentum Factor ETF by 8.3% in the 3rd quarter. Bank of America Corp DE now owns 1,239,000 shares of the company’s stock valued at $317,742,000 after acquiring an additional 94,881 shares in the last quarter. State of Michigan Retirement System increased its stake in iShares MSCI USA Momentum Factor ETF by 1.4% during the third quarter. State of Michigan Retirement System now owns 1,223,490 shares of the company’s stock worth $313,764,000 after purchasing an additional 17,400 shares during the period. Finally, Cerity Partners LLC increased its stake in iShares MSCI USA Momentum Factor ETF by 2.6% during the third quarter. Cerity Partners LLC now owns 1,151,952 shares of the company’s stock worth $295,418,000 after purchasing an additional 29,230 shares during the period.

iShares MSCI USA Momentum Factor ETF Stock Performance

Shares of MTUM opened at $241.52 on Monday. The company’s 50-day simple moving average is $252.45 and its 200-day simple moving average is $252.01. iShares MSCI USA Momentum Factor ETF has a 1 year low of $171.51 and a 1 year high of $262.10. The stock has a market capitalization of $17.63 billion, a PE ratio of 28.67 and a beta of 1.02.

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.