iShares 5-10 Year Investment Grade Corporate Bond ETF (NASDAQ:IGIB) Reaches New 1-Year Low – What’s Next?

Shares of iShares 5-10 Year Investment Grade Corporate Bond ETF (NASDAQ:IGIB) hit a new 52-week low during mid-day trading on Wednesday. The company traded as low as $51.12 and last traded at $51.0950, with a volume of 442313 shares. The stock had previously closed at $51.44.

iShares 5-10 Year Investment Grade Corporate Bond ETF Trading Down 0.5%

The stock has a fifty day moving average of $52.00 and a 200-day moving average of $52.71.

iShares 5-10 Year Investment Grade Corporate Bond ETF Increases Dividend

The business also recently announced a monthly dividend, which was paid on Friday, September 4th. Stockholders of record on Tuesday, September 1st were paid a dividend of $0.2219 per share. This is an increase from iShares 5-10 Year Investment Grade Corporate Bond ETF’s previous monthly dividend of $0.22. This represents a $2.66 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend was Tuesday, September 1st.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in IGIB. Archer Investment Corp boosted its position in iShares 5-10 Year Investment Grade Corporate Bond ETF by 874.5% in the 1st quarter. Archer Investment Corp now owns 497 shares of the company’s stock valued at $26,000 after buying an additional 446 shares during the period. Rothschild Investment LLC bought a new stake in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF during the fourth quarter valued at approximately $40,000. Strive Financial Group LLC bought a new stake in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF during the second quarter valued at approximately $43,000. Nalls Sherbakoff Group LLC bought a new position in iShares 5-10 Year Investment Grade Corporate Bond ETF in the fourth quarter worth approximately $89,000. Finally, Root Financial Partners LLC increased its holdings in iShares 5-10 Year Investment Grade Corporate Bond ETF by 15.5% during the 1st quarter. Root Financial Partners LLC now owns 2,023 shares of the company’s stock worth $108,000 after purchasing an additional 272 shares during the period. 76.98% of the stock is currently owned by institutional investors.

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.