iShares 5-10 Year Investment Grade Corporate Bond ETF (NASDAQ:IGIB) Hits New 52-Week High After Dividend Announcement

iShares 5-10 Year Investment Grade Corporate Bond ETF (NASDAQ:IGIB)’s share price reached a new 52-week high during mid-day trading on Wednesday following a dividend announcement from the company. The company traded as high as $52.30 and last traded at $52.28, with a volume of 35775 shares. The stock had previously closed at $52.12.

The newly announced dividend which will be paid on Tuesday, August 6th. Stockholders of record on Thursday, August 1st will be issued a dividend of $0.1929 per share. The ex-dividend date is Thursday, August 1st. This represents a $2.31 annualized dividend and a dividend yield of 4.42%. This is an increase from iShares 5-10 Year Investment Grade Corporate Bond ETF’s previous monthly dividend of $0.19.

iShares 5-10 Year Investment Grade Corporate Bond ETF Stock Performance

The firm’s 50-day simple moving average is $51.52 and its two-hundred day simple moving average is $51.24.

Institutional Trading of iShares 5-10 Year Investment Grade Corporate Bond ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Graypoint LLC increased its holdings in iShares 5-10 Year Investment Grade Corporate Bond ETF by 20.7% in the 2nd quarter. Graypoint LLC now owns 412,178 shares of the company’s stock worth $21,128,000 after buying an additional 70,629 shares during the period. Morton Brown Family Wealth LLC acquired a new stake in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF in the second quarter worth $129,000. Stelac Advisory Services LLC raised its holdings in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF by 8.9% during the second quarter. Stelac Advisory Services LLC now owns 23,897 shares of the company’s stock worth $1,225,000 after purchasing an additional 1,959 shares during the last quarter. Arkadios Wealth Advisors lifted its position in iShares 5-10 Year Investment Grade Corporate Bond ETF by 93.4% during the second quarter. Arkadios Wealth Advisors now owns 8,492 shares of the company’s stock valued at $435,000 after purchasing an additional 4,101 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in iShares 5-10 Year Investment Grade Corporate Bond ETF by 21.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 73,958 shares of the company’s stock valued at $3,791,000 after purchasing an additional 13,207 shares during the last quarter. Institutional investors and hedge funds own 76.98% of the company’s stock.

About iShares 5-10 Year Investment Grade Corporate Bond ETF

The iShares 5-10 Year Investment Grade Corporate Bond ETF (IGIB) is an exchange-traded fund that is based on the ICE BofA US Corporate (5-10 Y) index. The fund tracks a market-value-weighted index of USD-denominated, investment grade corporate debt with maturities between 5-10 years. IGIB was launched on Jan 5, 2007 and is managed by BlackRock.