iShares Broad USD Investment Grade Corporate Bond ETF (NASDAQ:USIG) Hits New 12-Month Low – Time to Sell?

Shares of iShares Broad USD Investment Grade Corporate Bond ETF (NASDAQ:USIG) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $49.98 and last traded at $49.99, with a volume of 56161 shares trading hands. The stock had previously closed at $50.28.

iShares Broad USD Investment Grade Corporate Bond ETF Stock Down 0.6%

The company’s 50 day moving average price is $50.59 and its 200-day moving average price is $51.11.

iShares Broad USD Investment Grade Corporate Bond ETF Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Thursday, August 6th. Investors of record on Monday, August 3rd were given a dividend of $0.2064 per share. The ex-dividend date of this dividend was Monday, August 3rd. This is a positive change from iShares Broad USD Investment Grade Corporate Bond ETF’s previous monthly dividend of $0.20. This represents a c) dividend on an annualized basis and a dividend yield of 5.0%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in USIG. Ameriprise Financial Inc. grew its holdings in iShares Broad USD Investment Grade Corporate Bond ETF by 21.0% during the second quarter. Ameriprise Financial Inc. now owns 9,978,176 shares of the company’s stock valued at $509,873,000 after purchasing an additional 1,735,043 shares during the period. TIAA Trust National Association raised its holdings in shares of iShares Broad USD Investment Grade Corporate Bond ETF by 4.1% in the 4th quarter. TIAA Trust National Association now owns 25,593,092 shares of the company’s stock valued at $1,327,404,000 after acquiring an additional 1,002,085 shares in the last quarter. Blue Edge Capital LLC bought a new stake in iShares Broad USD Investment Grade Corporate Bond ETF during the second quarter valued at approximately $21,857,000. Strategic Investment Advisors MI raised its position in shares of iShares Broad USD Investment Grade Corporate Bond ETF by 82.5% during the 1st quarter. Strategic Investment Advisors MI now owns 426,907 shares of the company’s stock valued at $21,856,000 after buying an additional 192,960 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of iShares Broad USD Investment Grade Corporate Bond ETF by 7.9% during the 4th quarter. Bank of New York Mellon Corp now owns 1,568,962 shares of the company’s stock worth $81,225,000 after acquiring an additional 115,328 shares during the last quarter.

About iShares Broad USD Investment Grade Corporate Bond ETF

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.