Drive Wealth Management LLC Sells 2,395 Shares of iShares 1-3 Year Treasury Bond ETF (NASDAQ:SHY)

Drive Wealth Management LLC reduced its position in shares of iShares 1-3 Year Treasury Bond ETF (NASDAQ:SHY) by 22.5% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 8,273 shares of the company’s stock after selling 2,395 shares during the quarter. Drive Wealth Management LLC’s holdings in iShares 1-3 Year Treasury Bond ETF were worth $675,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of SHY. SWP Financial LLC acquired a new stake in iShares 1-3 Year Treasury Bond ETF in the 4th quarter valued at approximately $338,000. PNC Financial Services Group Inc. grew its position in iShares 1-3 Year Treasury Bond ETF by 0.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,073,272 shares of the company’s stock worth $88,051,000 after purchasing an additional 4,482 shares during the last quarter. Gradient Investments LLC raised its position in shares of iShares 1-3 Year Treasury Bond ETF by 1,316.2% during the second quarter. Gradient Investments LLC now owns 963 shares of the company’s stock valued at $79,000 after buying an additional 895 shares during the last quarter. Ndwm LLC bought a new stake in shares of iShares 1-3 Year Treasury Bond ETF in the fourth quarter valued at about $1,371,000. Finally, M&T Bank Corp grew its position in iShares 1-3 Year Treasury Bond ETF by 2.4% during the fourth quarter. M&T Bank Corp now owns 488,469 shares of the company’s stock worth $40,074,000 after buying an additional 11,478 shares in the last quarter. 23.62% of the stock is currently owned by institutional investors and hedge funds.

iShares 1-3 Year Treasury Bond ETF Price Performance

SHY remained flat at $82.80 on Friday. The company had a trading volume of 2,781,303 shares, compared to its average volume of 4,000,214. The business has a 50 day moving average of $82.17 and a two-hundred day moving average of $81.71. iShares 1-3 Year Treasury Bond ETF has a 1 year low of $80.62 and a 1 year high of $82.91. The company has a market cap of $24.56 billion, a price-to-earnings ratio of 3,695.45 and a beta of 0.01.

iShares 1-3 Year Treasury Bond ETF Increases Dividend

The company also recently announced a monthly dividend, which was paid on Tuesday, August 6th. Investors of record on Thursday, August 1st were given a $0.2725 dividend. This is a boost from iShares 1-3 Year Treasury Bond ETF’s previous monthly dividend of $0.27. This represents a $3.27 annualized dividend and a yield of 3.95%. The ex-dividend date was Thursday, August 1st.

iShares 1-3 Year Treasury Bond ETF Company Profile

The iShares 1-3 Year Treasury Bond ETF (SHY) is an exchange-traded fund that is based on the U.S. Treasury 1-3 Year index. The fund tracks a market weighted index of debt issued by the US Treasury with 1-3 years remaining to maturity. Treasury STRIPS are excluded. SHY was launched on Jul 22, 2002 and is managed by BlackRock.