Convergence Financial LLC Has $20.99 Million Position in iShares MSCI USA Momentum Factor ETF $MTUM

Convergence Financial LLC increased its holdings in iShares MSCI USA Momentum Factor ETF (BATS:MTUM) by 2.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,838 shares of the company’s stock after buying an additional 2,178 shares during the quarter. iShares MSCI USA Momentum Factor ETF comprises 3.1% of Convergence Financial LLC’s portfolio, making the stock its 8th largest holding. Convergence Financial LLC owned about 0.11% of iShares MSCI USA Momentum Factor ETF worth $20,986,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Caprock Group LLC bought a new position in shares of iShares MSCI USA Momentum Factor ETF in the third quarter worth $3,283,000. Braun Bostich & Associates Inc. boosted its stake in iShares MSCI USA Momentum Factor ETF by 63.4% during the fourth quarter. Braun Bostich & Associates Inc. now owns 11,497 shares of the company’s stock valued at $2,878,000 after buying an additional 4,463 shares in the last quarter. BCGM Wealth Management LLC boosted its stake in iShares MSCI USA Momentum Factor ETF by 45.0% during the fourth quarter. BCGM Wealth Management LLC now owns 25,663 shares of the company’s stock valued at $6,424,000 after buying an additional 7,960 shares in the last quarter. Cypress Wealth Services LLC boosted its stake in iShares MSCI USA Momentum Factor ETF by 63.6% during the fourth quarter. Cypress Wealth Services LLC now owns 14,772 shares of the company’s stock valued at $3,698,000 after buying an additional 5,740 shares in the last quarter. Finally, Ausdal Financial Partners Inc. boosted its stake in iShares MSCI USA Momentum Factor ETF by 237.4% during the third quarter. Ausdal Financial Partners Inc. now owns 4,768 shares of the company’s stock valued at $1,223,000 after buying an additional 3,355 shares in the last quarter.

iShares MSCI USA Momentum Factor ETF Stock Down 1.1%

Shares of BATS MTUM opened at $325.87 on Friday. iShares MSCI USA Momentum Factor ETF has a 12 month low of $229.29 and a 12 month high of $331.49. The company has a market cap of $23.79 billion, a price-to-earnings ratio of 28.67 and a beta of 1.02. The business has a fifty day simple moving average of $282.37 and a 200-day simple moving average of $262.22.

About iShares MSCI USA Momentum Factor ETF

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.