iShares iBoxx $ Investment Grade Corporate Bond ETF (NYSEARCA:LQD) Reaches New 1-Year Low – Should You Sell?

Shares of iShares iBoxx $ Investment Grade Corporate Bond ETF (NYSEARCA:LQD) hit a new 52-week low on Tuesday . The stock traded as low as $106.77 and last traded at $106.82, with a volume of 1098616 shares changing hands. The stock had previously closed at $107.15.

iShares iBoxx $ Investment Grade Corporate Bond ETF Price Performance

The stock’s fifty day moving average is $108.46 and its 200-day moving average is $109.45. The stock has a market cap of $34.95 billion, a PE ratio of 32.25 and a beta of 0.43.

Institutional Trading of iShares iBoxx $ Investment Grade Corporate Bond ETF

Several hedge funds have recently made changes to their positions in the company. NewEdge Advisors LLC lifted its holdings in iShares iBoxx $ Investment Grade Corporate Bond ETF by 50.5% in the second quarter. NewEdge Advisors LLC now owns 52,109 shares of the exchange traded fund’s stock valued at $5,712,000 after acquiring an additional 17,493 shares during the last quarter. American Family Investments Inc. acquired a new stake in iShares iBoxx $ Investment Grade Corporate Bond ETF during the second quarter worth $25,210,000. Brown Brothers Harriman & Co. raised its position in iShares iBoxx $ Investment Grade Corporate Bond ETF by 6.8% in the third quarter. Brown Brothers Harriman & Co. now owns 8,665 shares of the exchange traded fund’s stock valued at $966,000 after purchasing an additional 550 shares during the period. Imprint Wealth LLC purchased a new stake in iShares iBoxx $ Investment Grade Corporate Bond ETF in the third quarter valued at $93,000. Finally, Integrated Wealth Concepts LLC lifted its stake in shares of iShares iBoxx $ Investment Grade Corporate Bond ETF by 8.8% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 29,783 shares of the exchange traded fund’s stock valued at $3,320,000 after purchasing an additional 2,421 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

About iShares iBoxx $ Investment Grade Corporate Bond ETF

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.