iShares iBoxx $ Investment Grade Corporate Bond ETF (NYSEARCA:LQD) Hits New 1-Year Low – What’s Next?

iShares iBoxx $ Investment Grade Corporate Bond ETF (NYSEARCA:LQD) shares reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $105.11 and last traded at $105.1850, with a volume of 9064941 shares. The stock had previously closed at $105.48.

iShares iBoxx $ Investment Grade Corporate Bond ETF Trading Down 0.2%

The stock has a market capitalization of $32.58 billion, a price-to-earnings ratio of 32.25 and a beta of 0.44. The company has a fifty day moving average of $106.65 and a two-hundred day moving average of $108.32.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of LQD. JPMorgan Chase & Co. boosted its holdings in iShares iBoxx $ Investment Grade Corporate Bond ETF by 430.0% during the fourth quarter. JPMorgan Chase & Co. now owns 3,932,215 shares of the exchange traded fund’s stock valued at $433,291,000 after acquiring an additional 3,190,347 shares during the period. BNP Paribas increased its stake in shares of iShares iBoxx $ Investment Grade Corporate Bond ETF by 14.4% in the fourth quarter. BNP Paribas now owns 2,362,313 shares of the exchange traded fund’s stock worth $260,303,000 after purchasing an additional 298,058 shares during the period. Greenleaf Trust acquired a new position in shares of iShares iBoxx $ Investment Grade Corporate Bond ETF during the 2nd quarter worth about $96,795,000. Oarsman Capital Inc. acquired a new position in shares of iShares iBoxx $ Investment Grade Corporate Bond ETF during the 2nd quarter worth about $95,734,000. Finally, iA Global Asset Management Inc. boosted its stake in iShares iBoxx $ Investment Grade Corporate Bond ETF by 33.0% during the 4th quarter. iA Global Asset Management Inc. now owns 600,200 shares of the exchange traded fund’s stock valued at $66,136,000 after purchasing an additional 149,000 shares during the period. Institutional investors own 89.30% of the company’s stock.

About iShares iBoxx $ Investment Grade Corporate Bond ETF

iShares iBoxx $ Investment Grade Corporate Bond ETF (the Fund), formerly iShares iBoxx $ Investment Grade Corporate Bond Fund, is an exchange-traded fund (ETF). The Fund seeks to track the investment results of the Markit iBoxx USD Liquid Investment Grade Index (the Index), which is a rules-based index consisting of liquid, the United States dollar-denominated, investment-grade corporate bonds for sale in the United States. The Index may include large-, mid- or small-capitalization companies, and components primarily include consumer services, financial, and oil and gas companies.