Ballast Small/Mid Cap ETF (NYSEARCA:MGMT) Trading Down 1.4% – Here’s Why

Ballast Small/Mid Cap ETF (NYSEARCA:MGMT) traded down 1.4% on Tuesday . The stock traded as low as $43.38 and last traded at $43.40. 913 shares were traded during trading, a decline of 93% from the average session volume of 12,227 shares. The stock had previously closed at $44.00.

Ballast Small/Mid Cap ETF Stock Down 1.4%

The company has a market capitalization of $157.54 million, a P/E ratio of 16.95 and a beta of 0.86. The company has a 50-day moving average of $43.35 and a two-hundred day moving average of $40.17.

Institutional Investors Weigh In On Ballast Small/Mid Cap ETF

An institutional investor recently raised its position in Ballast Small/Mid Cap ETF stock. Janney Montgomery Scott LLC lifted its position in shares of Ballast Small/Mid Cap ETF (NYSEARCA:MGMT) by 5.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,006 shares of the company’s stock after purchasing an additional 2,148 shares during the quarter. Janney Montgomery Scott LLC owned about 0.99% of Ballast Small/Mid Cap ETF worth $1,540,000 as of its most recent filing with the Securities & Exchange Commission.

About Ballast Small/Mid Cap ETF

The Ballast Small\u002FMid Cap ETF (MGMT) is an exchange-traded fund that mostly invests in extended market equity. The fund is an actively-managed fund that aims for positive risk-adjusted returns. MGMT was launched on Dec 2, 2020 and is managed by Ballast.