iShares 5-10 Year Investment Grade Corporate Bond ETF (NASDAQ:IGIB) Stock Short Interest Rises 190.4%

iShares 5-10 Year Investment Grade Corporate Bond ETF (NASDAQ:IGIB) was the recipient of a significant growth in short interest in the month of September. As of September 30th, there was short interest totaling 5,109,962 shares, a growth of 190.4% from the September 15th total of 1,759,624 shares. Approximately 1.4% of the shares of the company are short sold. Based on an average trading volume of 4,128,644 shares, the days-to-cover ratio is presently 1.2 days.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. First County Bank CT purchased a new position in iShares 5-10 Year Investment Grade Corporate Bond ETF in the third quarter worth approximately $477,000. CoreCap Advisors LLC lifted its holdings in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF by 28.1% in the 3rd quarter. CoreCap Advisors LLC now owns 234,396 shares of the company’s stock valued at $11,802,000 after buying an additional 51,368 shares during the period. Montecito Bank & Trust purchased a new position in iShares 5-10 Year Investment Grade Corporate Bond ETF in the third quarter valued at about $2,017,000. Strive Financial Group LLC purchased a new position in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF during the 2nd quarter worth approximately $43,000. Finally, Continuum Advisory LLC purchased a new position in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF during the second quarter valued at approximately $235,000. Institutional investors and hedge funds own 76.98% of the company’s stock.

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

iShares 5-10 Year Investment Grade Corporate Bond ETF stock opened at $50.47 on Wednesday. iShares 5-10 Year Investment Grade Corporate Bond ETF has a 12 month low of $49.94 and a 12 month high of $54.58. The stock’s 50 day simple moving average is $51.48 and its two-hundred day simple moving average is $52.45.

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

The company also recently disclosed a monthly dividend, which was paid on Tuesday, October 6th. Investors of record on Thursday, October 1st were issued a $0.2206 dividend. This represents a $2.65 annualized dividend and a yield of 5.2%. The ex-dividend date was Thursday, October 1st. This is a negative change from iShares 5-10 Year Investment Grade Corporate Bond ETF’s previous monthly dividend of $0.2219.

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.