Kovack Advisors Inc. Sells 1,771 Shares of iShares Morningstar Growth ETF (NYSEARCA:ILCG)

Kovack Advisors Inc. lowered its stake in shares of iShares Morningstar Growth ETF (NYSEARCA:ILCG) by 26.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 4,909 shares of the company’s stock after selling 1,771 shares during the quarter. Kovack Advisors Inc.’s holdings in iShares Morningstar Growth ETF were worth $413,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. LPL Financial LLC grew its stake in shares of iShares Morningstar Growth ETF by 7.8% in the 2nd quarter. LPL Financial LLC now owns 1,361,772 shares of the company’s stock worth $110,862,000 after buying an additional 98,743 shares in the last quarter. Strategic Financial Concepts LLC grew its holdings in iShares Morningstar Growth ETF by 1,453.5% during the 2nd quarter. Strategic Financial Concepts LLC now owns 853,847 shares of the company’s stock valued at $695,000 after purchasing an additional 798,883 shares during the last quarter. AdvisorShares Investments LLC purchased a new stake in iShares Morningstar Growth ETF in the 2nd quarter worth about $40,618,000. Commonwealth Equity Services LLC lifted its stake in iShares Morningstar Growth ETF by 6.9% in the second quarter. Commonwealth Equity Services LLC now owns 472,360 shares of the company’s stock worth $38,455,000 after purchasing an additional 30,539 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in iShares Morningstar Growth ETF by 56.1% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 295,269 shares of the company’s stock valued at $24,038,000 after acquiring an additional 106,146 shares during the period.

iShares Morningstar Growth ETF Trading Down 0.8 %

NYSEARCA ILCG opened at $89.42 on Friday. The stock has a market cap of $2.50 billion, a PE ratio of 38.76 and a beta of 1.24. The company’s 50-day moving average price is $84.73 and its 200-day moving average price is $81.24. iShares Morningstar Growth ETF has a 12 month low of $64.03 and a 12 month high of $90.66.

About iShares Morningstar Growth ETF

The iShares Morningstar Growth ETF (ILCG) is an exchange-traded fund that mostly invests in total market equity. The fund tracks a market cap-weighted index of growth stocks, selected from the top 90% of the US market-cap spectrum. ILCG was launched on Jun 28, 2004 and is managed by BlackRock.