iShares iBoxx $ Investment Grade Corporate Bond ETF (NYSEARCA:LQD) Sets New 52-Week Low – Here’s Why

iShares iBoxx $ Investment Grade Corporate Bond ETF (NYSEARCA:LQD)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $104.05 and last traded at $104.30, with a volume of 30844211 shares trading hands. The stock had previously closed at $104.32.

iShares iBoxx $ Investment Grade Corporate Bond ETF Stock Performance

The stock has a market capitalization of $27.18 billion, a price-to-earnings ratio of 32.25 and a beta of 0.44. The company has a 50 day moving average of $106.19 and a 200 day moving average of $108.02.

Hedge Funds Weigh In On iShares iBoxx $ Investment Grade Corporate Bond ETF

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its holdings in iShares iBoxx $ Investment Grade Corporate Bond ETF by 430.0% in the fourth quarter. JPMorgan Chase & Co. now owns 3,932,215 shares of the exchange traded fund’s stock valued at $433,291,000 after acquiring an additional 3,190,347 shares in the last quarter. BNP Paribas grew its holdings in iShares iBoxx $ Investment Grade Corporate Bond ETF by 14.4% during the 4th quarter. BNP Paribas now owns 2,362,313 shares of the exchange traded fund’s stock worth $260,303,000 after acquiring an additional 298,058 shares in the last quarter. Greenleaf Trust acquired a new position in iShares iBoxx $ Investment Grade Corporate Bond ETF during the 2nd quarter worth approximately $96,795,000. Oarsman Capital Inc. purchased a new stake in shares of iShares iBoxx $ Investment Grade Corporate Bond ETF in the 2nd quarter valued at approximately $95,734,000. Finally, Hilltop Holdings Inc. increased its position in shares of iShares iBoxx $ Investment Grade Corporate Bond ETF by 15.7% in the 1st quarter. Hilltop Holdings Inc. now owns 257,303 shares of the exchange traded fund’s stock valued at $28,043,000 after purchasing an additional 34,847 shares during the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

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.