State of Michigan Retirement System Trims Holdings in iShares MSCI USA Momentum Factor ETF (BATS:MTUM)

State of Michigan Retirement System trimmed its position in iShares MSCI USA Momentum Factor ETF (BATS:MTUM) by 1.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,290,890 shares of the company’s stock after selling 17,600 shares during the period. iShares MSCI USA Momentum Factor ETF comprises about 1.4% of State of Michigan Retirement System’s investment portfolio, making the stock its 11th largest position. State of Michigan Retirement System owned about 2.38% of iShares MSCI USA Momentum Factor ETF worth $267,111,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MTUM. Park Avenue Securities LLC lifted its holdings in iShares MSCI USA Momentum Factor ETF by 1,055.4% in the 4th quarter. Park Avenue Securities LLC now owns 507,294 shares of the company’s stock valued at $104,969,000 after purchasing an additional 463,387 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of iShares MSCI USA Momentum Factor ETF by 140.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 425,097 shares of the company’s stock worth $87,961,000 after acquiring an additional 248,600 shares during the period. Citigroup Inc. lifted its holdings in shares of iShares MSCI USA Momentum Factor ETF by 1,266.9% during the 3rd quarter. Citigroup Inc. now owns 253,036 shares of the company’s stock worth $51,305,000 after acquiring an additional 234,524 shares during the period. Foundations Investment Advisors LLC lifted its holdings in shares of iShares MSCI USA Momentum Factor ETF by 245.6% during the 4th quarter. Foundations Investment Advisors LLC now owns 225,033 shares of the company’s stock worth $46,564,000 after acquiring an additional 159,916 shares during the period. Finally, JB Capital LLC purchased a new position in shares of iShares MSCI USA Momentum Factor ETF during the 4th quarter worth about $32,997,000.

iShares MSCI USA Momentum Factor ETF Price Performance

Shares of MTUM stock opened at $214.18 on Tuesday. The firm has a market cap of $15.37 billion, a P/E ratio of 28.87 and a beta of 0.98. iShares MSCI USA Momentum Factor ETF has a 1-year low of $81.37 and a 1-year high of $113.60. The firm’s 50-day simple moving average is $217.33 and its 200-day simple moving average is $209.36.

iShares MSCI USA Momentum Factor ETF 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.