Carnegie Investment Counsel Acquires Shares of iShares Morningstar Mid-Cap Growth ETF

Carnegie Investment Counsel has recently announced an increase in its investment in the iShares Morningstar Mid-Cap Growth ETF (NYSEARCA:IMCG). During the fourth quarter, the firm boosted its holdings by 1.0%, as reflected in its latest Form 13F filing with the SEC. Following this acquisition, Carnegie Investment Counsel now owns a total of 14,479 shares of the ETF after adding an additional 150 shares.

As per the filings, Carnegie Investment Counsel's stake in the iShares Morningstar Mid-Cap Growth ETF is about 0.05% of the total fund, which is valued at approximately $1,094,000. This move highlights the firm's ongoing interest in mid-cap growth investments in the current market landscape.

Other hedge funds are showing similar trends with plays in the iShares Morningstar Mid-Cap Growth ETF. Envestnet Asset Management Inc. has increased its holdings by 20.4% during the second quarter, bringing its total to 221,629 shares worth approximately $15,015,000 after an additional purchase of 37,486 shares.

In another notable move, Blair William & Co. IL reported a staggering increase of 341.1% in its stake during the same period, now holding 23,241 shares valued at $1,575,000 after acquiring an extra 17,972 shares.

Thrivent Financial for Lutherans and Northwestern Mutual Wealth Management Co. have also expanded their holdings in the ETF by 11.5% and 3.4% respectively, showcasing the growing interest from various asset management firms in this particular ETF. Finally, NewEdge Advisors LLC has dramatically increased its ownership by 49.2%, holding 41,604 shares valued at about $2,819,000 after purchasing an extra 13,713 shares.

Performance Snapshot of iShares Morningstar Mid-Cap Growth ETF

The iShares Morningstar Mid-Cap Growth ETF has been performing steadily in the market. Opening at $78.30 recently, the fund has experienced a 12-month low of $62.58 and a peak of $81.68. Currently, the fund boasts a market capitalization of $2.26 billion, with a P/E ratio of 27.60 and a beta of 1.13, indicating its stock's volatility compared to the market.

Moreover, the company has maintained moving averages with a 50-day price at $78.07 and a two-hundred day average at $73.37, which are useful indicators for potential investors.
The iShares Morningstar Mid-Cap Growth ETF is designed to track the Morningstar US Mid Cap Broad Growth Index and comprises medium-sized companies exhibiting strong growth characteristics. This fund has been operational since June 28, 2004, and is managed by BlackRock.

Investment, ETF, Growth