iShares 5-10 Year Investment Grade Corporate Bond ETF (NASDAQ:IGIB) Sees Strong Trading Volume After Dividend Announcement

Shares of iShares 5-10 Year Investment Grade Corporate Bond ETF (NASDAQ:IGIB) saw unusually-strong trading volume on Tuesday after the company announced a dividend. Approximately 3,489,698 shares traded hands during trading, an increase of 71% from the previous session’s volume of 2,037,018 shares.The stock last traded at $52.51 and had previously closed at $52.52.

The newly announced dividend which will be paid on Friday, April 4th. Stockholders of record on Tuesday, April 1st will be given a $0.2004 dividend. This represents a $2.41 dividend on an annualized basis and a dividend yield of 4.58%. This is a boost from iShares 5-10 Year Investment Grade Corporate Bond ETF’s previous monthly dividend of $0.19. The ex-dividend date of this dividend is Tuesday, April 1st.

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

The business has a fifty day moving average of $52.13 and a two-hundred day moving average of $52.27.

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

Several institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its stake in iShares 5-10 Year Investment Grade Corporate Bond ETF by 133.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,447,483 shares of the company’s stock valued at $131,479,000 after buying an additional 1,399,131 shares during the last quarter. TD Private Client Wealth LLC grew its position in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF by 38.3% during the 4th quarter. TD Private Client Wealth LLC now owns 1,117,851 shares of the company’s stock worth $57,580,000 after purchasing an additional 309,753 shares in the last quarter. MFA Wealth Advisors LLC bought a new position in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF during the fourth quarter worth approximately $14,918,000. Syon Capital LLC acquired a new stake in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF in the fourth quarter valued at approximately $13,463,000. Finally, Greenwood Gearhart Inc. boosted its stake in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF by 20.8% in the fourth quarter. Greenwood Gearhart Inc. now owns 1,329,506 shares of the company’s stock valued at $68,483,000 after buying an additional 228,493 shares during the period. 76.98% of the stock is currently owned by institutional investors and hedge funds.

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.