Inspire Corporate Bond ETF (NYSEARCA:IBD) Reaches New 1-Year Low – Should You Sell?

Inspire Corporate Bond ETF (NYSEARCA:IBD) hit a new 52-week low during trading on Thursday. The stock traded as low as $22.70 and last traded at $22.9420, with a volume of 24599 shares trading hands. The stock had previously closed at $23.00.

Inspire Corporate Bond ETF Trading Up 0.1%

The firm’s 50-day simple moving average is $23.49 and its two-hundred day simple moving average is $23.71.

Inspire Corporate Bond ETF Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 25th will be issued a $0.0820 dividend. The ex-dividend date is Friday, September 25th. This represents a $0.98 dividend on an annualized basis and a dividend yield of 4.3%. This is a decrease from Inspire Corporate Bond ETF’s previous monthly dividend of $0.0904.

Hedge Funds Weigh In On Inspire Corporate Bond ETF

Several hedge funds and other institutional investors have recently bought and sold shares of IBD. Vicus Capital boosted its position in Inspire Corporate Bond ETF by 1.9% during the first quarter. Vicus Capital now owns 84,925 shares of the company’s stock worth $2,026,000 after purchasing an additional 1,576 shares in the last quarter. AdvisorNet Financial Inc raised its stake in shares of Inspire Corporate Bond ETF by 6,054.1% during the 1st quarter. AdvisorNet Financial Inc now owns 2,277 shares of the company’s stock worth $54,000 after buying an additional 2,240 shares during the last quarter. Continuum Advisory LLC purchased a new stake in shares of Inspire Corporate Bond ETF in the 2nd quarter worth about $56,000. Root Financial Partners LLC purchased a new stake in shares of Inspire Corporate Bond ETF in the 1st quarter worth about $118,000. Finally, Sterling Investment Advisors Ltd. acquired a new stake in Inspire Corporate Bond ETF in the 2nd quarter valued at about $238,000.

About Inspire Corporate Bond ETF

The Inspire Corporate Bond Impact ESG ETF (IBD) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund tracks an equally weighted index of bonds issued by S&P 500-component companies that meet biblically responsible investing standards according to the Issuer. IBD was launched on Jul 10, 2017 and is managed by Inspire.