iShares Broad USD Investment Grade Corporate Bond ETF (NASDAQ:USIG) Reaches New 1-Year Low – Here’s Why

iShares Broad USD Investment Grade Corporate Bond ETF (NASDAQ:USIG)’s share price hit a new 52-week low on Wednesday . The stock traded as low as $50.45 and last traded at $50.46, with a volume of 48970 shares trading hands. The stock had previously closed at $50.50.

iShares Broad USD Investment Grade Corporate Bond ETF Stock Down 0.1%

The business has a fifty day moving average of $51.02 and a two-hundred day moving average of $51.43.

iShares Broad USD Investment Grade Corporate Bond ETF Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Wednesday, July 1st were paid a dividend of $0.2016 per share. This represents a c) annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend was Wednesday, July 1st.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in USIG. Garton & Associates Financial Advisors LLC purchased a new stake in iShares Broad USD Investment Grade Corporate Bond ETF in the 4th quarter worth $26,000. YANKCOM Partnership purchased a new position in iShares Broad USD Investment Grade Corporate Bond ETF during the fourth quarter valued at $32,000. Creative Capital Management Investments LLC acquired a new stake in shares of iShares Broad USD Investment Grade Corporate Bond ETF in the first quarter valued at about $34,000. Harbor Investment Advisory LLC grew its position in shares of iShares Broad USD Investment Grade Corporate Bond ETF by 3,147.6% in the first quarter. Harbor Investment Advisory LLC now owns 682 shares of the company’s stock valued at $35,000 after purchasing an additional 661 shares during the period. Finally, Strive Financial Group LLC purchased a new stake in shares of iShares Broad USD Investment Grade Corporate Bond ETF during the fourth quarter worth about $52,000.

About iShares Broad USD Investment Grade Corporate Bond ETF

The iShares Broad USD Investment Grade Corporate Bond ETF (USIG) is an exchange-traded fund that is based on the ICE BofA US Corporate index. The fund tracks a market-value-weighted index of USD-denominated, investment-grade corporate debt. USIG was launched on Jan 5, 2007 and is managed by BlackRock.