iShares 1-3 Year Treasury Bond ETF (NASDAQ:SHY) Sees Large Volume Increase – Should You Buy?

iShares 1-3 Year Treasury Bond ETF (NASDAQ:SHY) shares saw unusually-high trading volume on Thursday. Approximately 18,209,781 shares traded hands during mid-day trading, an increase of 326% from the average daily volume of 4,273,795 shares. The stock last traded at $81.1550 and had previously closed at $81.31.

iShares 1-3 Year Treasury Bond ETF Stock Performance

The firm has a market capitalization of $27.39 billion, a P/E ratio of 3,747.73 and a beta of 0.05. The firm has a 50 day moving average price of $81.35 and a two-hundred day moving average price of $82.06.

iShares 1-3 Year Treasury Bond ETF Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Thursday, November 5th. Investors of record on Monday, November 2nd were paid a $0.2544 dividend. The ex-dividend date of this dividend was Monday, November 2nd. This represents a $3.05 annualized dividend and a yield of 3.8%. This is an increase from iShares 1-3 Year Treasury Bond ETF’s previous monthly dividend of $0.2410.

Hedge Funds Weigh In On iShares 1-3 Year Treasury Bond ETF

A number of hedge funds have recently added to or reduced their stakes in SHY. RPOA Advisors Inc. acquired a new position in shares of iShares 1-3 Year Treasury Bond ETF during the 3rd quarter valued at about $301,889,000. Bank of America Corp DE boosted its position in iShares 1-3 Year Treasury Bond ETF by 28.3% during the first quarter. Bank of America Corp DE now owns 15,649,532 shares of the company’s stock worth $1,292,182,000 after purchasing an additional 3,451,890 shares during the period. The Manufacturers Life Insurance Company boosted its position in iShares 1-3 Year Treasury Bond ETF by 225.0% during the second quarter. The Manufacturers Life Insurance Company now owns 3,545,364 shares of the company’s stock worth $291,110,000 after purchasing an additional 2,454,485 shares during the period. AIA Group Ltd acquired a new position in iShares 1-3 Year Treasury Bond ETF during the third quarter valued at approximately $123,450,000. Finally, Edge Wealth Management LLC grew its holdings in iShares 1-3 Year Treasury Bond ETF by 286.0% during the third quarter. Edge Wealth Management LLC now owns 1,518,562 shares of the company’s stock valued at $123,284,000 after purchasing an additional 1,125,105 shares during the last quarter. Institutional investors and hedge funds own 23.15% of the company’s stock.

About iShares 1-3 Year Treasury Bond ETF

The iShares 1-3 Year Treasury Bond ETF (SHY) is an exchange-traded fund that is based on the U.S. Treasury 1-3 Year index. The fund tracks a market weighted index of debt issued by the US Treasury with 1-3 years remaining to maturity. Treasury STRIPS are excluded. SHY was launched on Jul 22, 2002 and is managed by BlackRock.