iShares 1-5 Year Investment Grade Corporate Bond ETF (NASDAQ:IGSB) Sees Large Drop in Short Interest

iShares 1-5 Year Investment Grade Corporate Bond ETF (NASDAQ:IGSB) saw a significant drop in short interest in the month of February. As of February 27th, there was short interest totaling 3,095,064 shares, a drop of 25.0% from the February 12th total of 4,125,782 shares. Based on an average trading volume of 2,176,347 shares, the days-to-cover ratio is presently 1.4 days. Currently, 0.8% of the shares of the stock are short sold. Currently, 0.8% of the shares of the stock are short sold. Based on an average trading volume of 2,176,347 shares, the days-to-cover ratio is presently 1.4 days.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Nalls Sherbakoff Group LLC acquired a new stake in iShares 1-5 Year Investment Grade Corporate Bond ETF in the 4th quarter valued at about $6,181,000. Union Savings Bank acquired a new position in iShares 1-5 Year Investment Grade Corporate Bond ETF during the fourth quarter worth about $848,000. Birchwood Financial Partners Inc. acquired a new position in iShares 1-5 Year Investment Grade Corporate Bond ETF during the fourth quarter worth about $45,000. Strive Financial Group LLC purchased a new stake in shares of iShares 1-5 Year Investment Grade Corporate Bond ETF in the fourth quarter valued at about $1,246,000. Finally, City National Bank of Florida MSD lifted its holdings in shares of iShares 1-5 Year Investment Grade Corporate Bond ETF by 4.3% in the fourth quarter. City National Bank of Florida MSD now owns 38,133 shares of the company’s stock valued at $2,016,000 after purchasing an additional 1,587 shares in the last quarter. 76.06% of the stock is owned by hedge funds and other institutional investors.

iShares 1-5 Year Investment Grade Corporate Bond ETF Stock Performance

Shares of NASDAQ:IGSB traded down $0.04 on Friday, reaching $52.46. 4,773,179 shares of the company were exchanged, compared to its average volume of 3,832,573. iShares 1-5 Year Investment Grade Corporate Bond ETF has a 1-year low of $51.49 and a 1-year high of $53.25. The company has a 50-day moving average of $52.96 and a 200-day moving average of $52.96.

iShares 1-5 Year Investment Grade Corporate Bond ETF Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Thursday, March 5th. Investors of record on Monday, March 2nd were issued a dividend of $0.1972 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a c) dividend on an annualized basis and a yield of 4.5%.

About iShares 1-5 Year Investment Grade Corporate Bond ETF

The iShares 1-5 Year Investment Grade Corporate Bond ETF (IGSB) is an exchange-traded fund that is based on the ICE BofA US Corporate (1-5 Y) index. The fund tracks a market-value-weighted index of US dollar-denominated, investment-grade corporate debt with 1-5 years remaining in maturity. IGSB was launched on Jan 5, 2007 and is managed by BlackRock.