iShares 5-10 Year Investment Grade Corporate Bond ETF (NASDAQ:IGIB) Shares Shorted: Short Interest Up 83.7% in September

iShares 5-10 Year Investment Grade Corporate Bond ETF (NASDAQ:IGIB) was the recipient of a significant increase in short interest during the month of September. As of September 15th, there was short interest totaling 1,759,624 shares, an increase of 83.7% from the August 31st total of 957,954 shares. Currently, 0.5% of the company’s stock are short sold. Based on an average daily volume of 3,055,394 shares, the days-to-cover ratio is presently 0.6 days.

iShares 5-10 Year Investment Grade Corporate Bond ETF Stock Performance

IGIB traded down $0.31 on Thursday, reaching $50.04. The company’s stock had a trading volume of 496,421 shares, compared to its average volume of 2,958,639. iShares 5-10 Year Investment Grade Corporate Bond ETF has a fifty-two week low of $49.94 and a fifty-two week high of $54.58. The stock has a 50 day moving average of $51.83 and a two-hundred day moving average of $52.63.

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

The business also recently announced a monthly dividend, which will be paid on Tuesday, October 6th. Stockholders of record on Thursday, October 1st will be issued a $0.2206 dividend. This represents a $2.65 annualized dividend and a dividend yield of 5.3%. The ex-dividend date is Thursday, October 1st. This is a negative change from iShares 5-10 Year Investment Grade Corporate Bond ETF’s previous monthly dividend of $0.2219.

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

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Archer Investment Corp boosted its stake in iShares 5-10 Year Investment Grade Corporate Bond ETF by 874.5% in the first quarter. Archer Investment Corp now owns 497 shares of the company’s stock valued at $26,000 after acquiring an additional 446 shares in the last quarter. Rothschild Investment LLC purchased a new position in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF during the fourth quarter worth about $40,000. Strive Financial Group LLC acquired a new stake in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF during the second quarter worth about $43,000. Nalls Sherbakoff Group LLC acquired a new stake in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF during the fourth quarter worth about $89,000. Finally, Root Financial Partners LLC lifted its holdings in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF by 15.5% in the 1st quarter. Root Financial Partners LLC now owns 2,023 shares of the company’s stock valued at $108,000 after purchasing an additional 272 shares during the last quarter. 76.98% of the stock is currently owned by institutional investors and hedge funds.

About iShares 5-10 Year Investment Grade Corporate Bond ETF

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.