Short Interest in iShares 5-10 Year Investment Grade Corporate Bond ETF (NASDAQ:IGIB) Declines By 28.6%

iShares 5-10 Year Investment Grade Corporate Bond ETF (NASDAQ:IGIB) saw a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 1,550,000 shares, a decline of 28.6% from the February 28th total of 2,170,000 shares. Based on an average daily volume of 1,971,300 shares, the days-to-cover ratio is currently 0.8 days. Currently, 0.5% of the shares of the stock are sold short.

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

Shares of iShares 5-10 Year Investment Grade Corporate Bond ETF stock traded up $0.08 during trading hours on Monday, reaching $52.52. 1,846,943 shares of the company’s stock were exchanged, compared to its average volume of 2,031,141. The business has a fifty day moving average of $52.09 and a two-hundred day moving average of $52.28. iShares 5-10 Year Investment Grade Corporate Bond ETF has a 1 year low of $49.91 and a 1 year high of $54.10.

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

The firm also recently disclosed a dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, March 3rd were issued a $0.1981 dividend. This is an increase from iShares 5-10 Year Investment Grade Corporate Bond ETF’s previous dividend of $0.20. The ex-dividend date was Monday, March 3rd.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its holdings in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF by 133.5% in the third quarter. JPMorgan Chase & Co. now owns 2,447,483 shares of the company’s stock valued at $131,479,000 after purchasing an additional 1,399,131 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in iShares 5-10 Year Investment Grade Corporate Bond ETF by 18,741.6% during the third quarter. BNP Paribas Financial Markets now owns 331,800 shares of the company’s stock worth $17,824,000 after buying an additional 330,039 shares during the last quarter. TD Private Client Wealth LLC grew its holdings in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF by 38.3% in the fourth quarter. TD Private Client Wealth LLC now owns 1,117,851 shares of the company’s stock valued at $57,580,000 after purchasing an additional 309,753 shares during the period. MFA Wealth Advisors LLC acquired a new position in iShares 5-10 Year Investment Grade Corporate Bond ETF in the fourth quarter valued at approximately $14,918,000. Finally, Syon Capital LLC acquired a new position in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF in the 4th quarter valued at $13,463,000. 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.