iShares 5-10 Year Investment Grade Corporate Bond ETF (NASDAQ:IGIB) Sees Significant Decline in Short Interest

iShares 5-10 Year Investment Grade Corporate Bond ETF (NASDAQ:IGIBGet Free Report) saw a large drop in short interest during the month of July. As of July 15th, there was short interest totaling 2,735,078 shares, a drop of 47.7% from the June 30th total of 5,230,565 shares. Based on an average daily trading volume, of 3,209,717 shares, the days-to-cover ratio is presently 0.9 days. Approximately 0.8% of the shares of the company are short sold.

iShares 5-10 Year Investment Grade Corporate Bond ETF Stock Up 0.2%

Shares of IGIB stock traded up $0.08 during trading hours on Thursday, hitting $52.35. The company’s stock had a trading volume of 3,163,743 shares, compared to its average volume of 2,997,159. The company has a 50 day moving average of $52.84 and a 200 day moving average of $53.34. iShares 5-10 Year Investment Grade Corporate Bond ETF has a 12-month low of $52.15 and a 12-month high of $54.58.

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

The firm also recently announced a dividend, which was paid on Tuesday, July 7th. Investors of record on Wednesday, July 1st were given a dividend of $0.2155 per share. The ex-dividend date was Wednesday, July 1st.

Institutional Investors Weigh In On iShares 5-10 Year Investment Grade Corporate Bond ETF

Several hedge funds have recently added to or reduced their stakes in IGIB. Root Financial Partners LLC raised its stake in shares of 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 valued at $108,000 after buying an additional 272 shares during the last quarter. Rossby Financial LCC boosted its stake in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF by 5.8% in the fourth quarter. Rossby Financial LCC now owns 5,227 shares of the company’s stock worth $282,000 after buying an additional 287 shares during the last quarter. Diversified Portfolios Inc. boosted its stake in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF by 1.6% in the fourth quarter. Diversified Portfolios Inc. now owns 24,015 shares of the company’s stock worth $1,294,000 after buying an additional 380 shares during the last quarter. Equitable Trust Co. grew its holdings in iShares 5-10 Year Investment Grade Corporate Bond ETF by 9.0% during the fourth quarter. Equitable Trust Co. now owns 4,823 shares of the company’s stock worth $260,000 after acquiring an additional 398 shares during the period. Finally, Advisory Services Network LLC grew its holdings in iShares 5-10 Year Investment Grade Corporate Bond ETF by 1.5% during the fourth quarter. Advisory Services Network LLC now owns 30,924 shares of the company’s stock worth $1,666,000 after acquiring an additional 443 shares during the period. 76.98% of the stock is owned by hedge funds and other institutional investors.

About iShares 5-10 Year Investment Grade Corporate Bond ETF

(Get Free Report)

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.

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