iShares 5-10 Year Investment Grade Corporate Bond ETF (NASDAQ:IGIB) Sees Large Decrease in Short Interest

iShares 5-10 Year Investment Grade Corporate Bond ETF (NASDAQ:IGIB) was the recipient of a large drop in short interest in the month of October. As of October 30th, there was short interest totaling 1,473,850 shares, a drop of 68.7% from the October 15th total of 4,714,967 shares. Based on an average trading volume of 3,600,609 shares, the short-interest ratio is currently 0.4 days. Approximately 0.4% of the shares of the stock are short sold.

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

NASDAQ IGIB traded down $0.04 during trading hours on Friday, reaching $50.59. The company’s stock had a trading volume of 1,682,869 shares, compared to its average volume of 3,092,964. The company’s 50-day moving average is $50.93 and its two-hundred day moving average is $52.57. iShares 5-10 Year Investment Grade Corporate Bond ETF has a 1-year low of $49.94 and a 1-year high of $54.58.

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

The firm also recently announced a monthly dividend, which was paid on Thursday, November 5th. Stockholders of record on Monday, November 2nd were paid a dividend of $0.2207 per share. This represents a $2.65 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend was Monday, November 2nd. This is a positive change from iShares 5-10 Year Investment Grade Corporate Bond ETF’s previous monthly dividend of $0.2206.

Institutional Investors Weigh In On iShares 5-10 Year Investment Grade Corporate Bond ETF

A number of institutional investors have recently added to or reduced their stakes in IGIB. Hexagon Capital Partners LLC increased its stake in iShares 5-10 Year Investment Grade Corporate Bond ETF by 37.1% during the 3rd quarter. Hexagon Capital Partners LLC now owns 27,549 shares of the company’s stock worth $1,387,000 after buying an additional 7,456 shares in the last quarter. Whittier Trust Co. purchased a new stake in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF during the third quarter worth approximately $1,450,000. White Pine Capital LLC purchased a new stake in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF during the third quarter worth approximately $365,000. Harbour Investments Inc. acquired a new position in iShares 5-10 Year Investment Grade Corporate Bond ETF in the 3rd quarter valued at $696,000. Finally, FDx Advisors Inc. acquired a new position in iShares 5-10 Year Investment Grade Corporate Bond ETF in the 3rd quarter valued at $2,244,000. Institutional investors and hedge funds own 76.98% of the company’s stock.

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.