iShares Broad USD Investment Grade Corporate Bond ETF (NASDAQ:USIG) Stock Price Break Above 50 Day Moving Average – Here’s What Happened

iShares Broad USD Investment Grade Corporate Bond ETF (NASDAQ:USIG)’s stock price crossed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $49.36 and traded as high as $49.59. iShares Broad USD Investment Grade Corporate Bond ETF shares last traded at $49.55, with a volume of 2,353,042 shares traded.

iShares Broad USD Investment Grade Corporate Bond ETF Price Performance

The stock has a fifty day moving average price of $49.36 and a 200 day moving average price of $50.75.

iShares Broad USD Investment Grade Corporate Bond ETF Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, November 5th. Investors of record on Monday, November 2nd will be issued a dividend of $0.2094 per share. This is a positive change from iShares Broad USD Investment Grade Corporate Bond ETF’s previous monthly dividend of $0.2062. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $2.51 dividend on an annualized basis and a yield of 5.1%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Blue Edge Capital LLC bought a new stake in shares of iShares Broad USD Investment Grade Corporate Bond ETF during the second quarter valued at about $21,857,000. Montecito Bank & Trust purchased a new stake in shares of iShares Broad USD Investment Grade Corporate Bond ETF in the third quarter worth about $718,000. Bank of New York Mellon Corp lifted its holdings in shares of iShares Broad USD Investment Grade Corporate Bond ETF by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 1,583,035 shares of the company’s stock worth $81,099,000 after buying an additional 14,073 shares in the last quarter. Strategic Investment Advisors MI boosted its position in shares of iShares Broad USD Investment Grade Corporate Bond ETF by 82.5% in the first quarter. Strategic Investment Advisors MI now owns 426,907 shares of the company’s stock valued at $21,856,000 after acquiring an additional 192,960 shares during the period. Finally, Davidson Trust Co. bought a new position in shares of iShares Broad USD Investment Grade Corporate Bond ETF in the third quarter valued at approximately $564,000.

iShares Broad USD Investment Grade Corporate Bond ETF Company Profile

The iShares Broad USD Investment Grade Corporate Bond ETF (USIG) is an exchange-traded fund that is based on the ICE BofA US Corporate index. The fund tracks a market-value-weighted index of USD-denominated, investment-grade corporate debt. USIG was launched on Jan 5, 2007 and is managed by BlackRock.