Inspire Corporate Bond ETF (NYSEARCA:IBD) Hits New 12-Month Low – Should You Sell?

Inspire Corporate Bond ETF (NYSEARCA:IBD)’s stock price reached a new 52-week low during trading on Friday. The company traded as low as $22.50 and last traded at $23.0590, with a volume of 8883 shares traded. The stock had previously closed at $23.05.

Inspire Corporate Bond ETF Stock Performance

The firm has a 50-day moving average price of $23.43 and a 200 day moving average price of $23.67.

Inspire Corporate Bond ETF Cuts Dividend

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

Hedge Funds Weigh In On Inspire Corporate Bond ETF

Several institutional investors have recently bought and sold shares of the company. AdvisorNet Financial Inc lifted its position in shares of Inspire Corporate Bond ETF by 6,054.1% during the first quarter. AdvisorNet Financial Inc now owns 2,277 shares of the company’s stock worth $54,000 after purchasing an additional 2,240 shares in the last quarter. Continuum Advisory LLC acquired a new position in shares of Inspire Corporate Bond ETF in the second quarter valued at approximately $56,000. Root Financial Partners LLC acquired a new position in shares of Inspire Corporate Bond ETF in the first quarter valued at approximately $118,000. Sterling Investment Advisors Ltd. purchased a new stake in Inspire Corporate Bond ETF during the 2nd quarter worth approximately $238,000. Finally, RMG Wealth Management LLC purchased a new stake in Inspire Corporate Bond ETF during the 1st quarter worth approximately $432,000.

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.