iShares iBoxx $ Investment Grade Corporate Bond ETF (NYSEARCA:LQD) Hits New 12-Month Low – What’s Next?

iShares iBoxx $ Investment Grade Corporate Bond ETF (NYSEARCA:LQD) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $105.36 and last traded at $105.42, with a volume of 15643352 shares traded. The stock had previously closed at $106.21.

iShares iBoxx $ Investment Grade Corporate Bond ETF Stock Down 0.9%

The company has a market cap of $32.56 billion, a price-to-earnings ratio of 32.25 and a beta of 0.44. The firm has a 50 day moving average price of $107.12 and a two-hundred day moving average price of $108.57.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LQD. Payden & Rygel acquired a new position in iShares iBoxx $ Investment Grade Corporate Bond ETF in the fourth quarter valued at $51,172,000. Providence First Trust Co raised its position in shares of iShares iBoxx $ Investment Grade Corporate Bond ETF by 8.6% in the 4th quarter. Providence First Trust Co now owns 136,127 shares of the exchange traded fund’s stock worth $15,000,000 after acquiring an additional 10,788 shares in the last quarter. Abound Financial LLC acquired a new position in shares of iShares iBoxx $ Investment Grade Corporate Bond ETF in the 4th quarter valued at about $8,924,000. Mufg Securities Americas Inc. bought a new stake in shares of iShares iBoxx $ Investment Grade Corporate Bond ETF during the 4th quarter valued at about $11,019,000. Finally, Dorsey Wright & Associates grew its stake in iShares iBoxx $ Investment Grade Corporate Bond ETF by 589.3% during the first quarter. Dorsey Wright & Associates now owns 22,387 shares of the exchange traded fund’s stock worth $2,440,000 after purchasing an additional 19,139 shares during the period. Institutional investors own 89.30% of the company’s stock.

iShares iBoxx $ Investment Grade Corporate Bond ETF Company Profile

iShares iBoxx $ Investment Grade Corporate Bond ETF (the Fund), formerly iShares iBoxx $ Investment Grade Corporate Bond Fund, is an exchange-traded fund (ETF). The Fund seeks to track the investment results of the Markit iBoxx USD Liquid Investment Grade Index (the Index), which is a rules-based index consisting of liquid, the United States dollar-denominated, investment-grade corporate bonds for sale in the United States. The Index may include large-, mid- or small-capitalization companies, and components primarily include consumer services, financial, and oil and gas companies.