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

iShares 5-10 Year Investment Grade Corporate Bond ETF (NASDAQ:IGIB) shares reached a new 52-week low during trading on Wednesday . The company traded as low as $51.64 and last traded at $51.6650, with a volume of 763916 shares trading hands. The stock had previously closed at $51.77.

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

The stock’s 50 day moving average is $52.36 and its two-hundred day moving average is $52.97.

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

The company also recently declared a monthly dividend, which was paid on Friday, September 4th. Shareholders of record on Tuesday, September 1st were paid a $0.2219 dividend. This is an increase from iShares 5-10 Year Investment Grade Corporate Bond ETF’s previous monthly dividend of $0.22. This represents a c) dividend on an annualized basis and a yield of 5.2%. The ex-dividend date was Tuesday, September 1st.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of IGIB. Archer Investment Corp lifted its stake in iShares 5-10 Year Investment Grade Corporate Bond ETF by 874.5% in the 1st quarter. Archer Investment Corp now owns 497 shares of the company’s stock valued at $26,000 after purchasing an additional 446 shares during the last quarter. Rothschild Investment LLC acquired a new stake in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF in the fourth quarter valued at approximately $40,000. Strive Financial Group LLC acquired a new stake in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF in the second quarter valued at approximately $43,000. IFC & Insurance Marketing Inc. bought a new position in iShares 5-10 Year Investment Grade Corporate Bond ETF during the fourth quarter worth $45,000. Finally, Birchwood Financial Partners Inc. bought a new position in iShares 5-10 Year Investment Grade Corporate Bond ETF in the 4th quarter valued at about $54,000. 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.