iShares 5-10 Year Investment Grade Corporate Bond ETF (NASDAQ:IGIB) Sets New 1-Year Low – Time to Sell?

iShares 5-10 Year Investment Grade Corporate Bond ETF (NASDAQ:IGIB) hit a new 52-week low on Tuesday. The company traded as low as $50.33 and last traded at $50.43, with a volume of 4526891 shares changing hands. The stock had previously closed at $50.72.

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

The business has a 50-day moving average price of $51.83 and a 200-day moving average price of $52.63.

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

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

Hedge Funds Weigh In On iShares 5-10 Year Investment Grade Corporate Bond ETF

Hedge funds and other institutional investors have recently modified their holdings of the business. RMG Wealth Management LLC bought a new position in iShares 5-10 Year Investment Grade Corporate Bond ETF in the first quarter worth approximately $57,452,000. Bank of New York Mellon Corp boosted its position in iShares 5-10 Year Investment Grade Corporate Bond ETF by 5.1% during the 1st quarter. Bank of New York Mellon Corp now owns 948,447 shares of the company’s stock valued at $50,476,000 after acquiring an additional 46,214 shares in the last quarter. Syon Capital LLC increased its holdings in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF by 2.5% in the 4th quarter. Syon Capital LLC now owns 525,501 shares of the company’s stock valued at $28,314,000 after acquiring an additional 12,861 shares during the period. Madison Asset Management LLC increased its holdings in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF by 63.0% in the 1st quarter. Madison Asset Management LLC now owns 400,916 shares of the company’s stock valued at $21,337,000 after acquiring an additional 154,955 shares during the period. Finally, Mittelman Wealth Management raised its position in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF by 9.0% in the 1st quarter. Mittelman Wealth Management now owns 213,856 shares of the company’s stock worth $11,381,000 after acquiring an additional 17,623 shares in the last quarter. 76.98% of the stock is currently owned by institutional investors.

iShares 5-10 Year Investment Grade Corporate Bond ETF Company Profile

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.