iShares 5-10 Year Investment Grade Corporate Bond ETF (NASDAQ:IGIB) Stock Short Interest Declines 68.7%

iShares 5-10 Year Investment Grade Corporate Bond ETF (NASDAQ:IGIB) was the recipient of a significant drop in short interest in 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. Currently, 0.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 3,600,609 shares, the short-interest ratio is currently 0.4 days.

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

A number of large investors have recently made changes to their positions in the stock. Madison Asset Management LLC lifted its position in iShares 5-10 Year Investment Grade Corporate Bond ETF by 63.0% during the first quarter. Madison Asset Management LLC now owns 400,916 shares of the company’s stock worth $21,337,000 after buying an additional 154,955 shares in the last quarter. Fort Washington Investment Advisors Inc. OH acquired a new position in iShares 5-10 Year Investment Grade Corporate Bond ETF during the third quarter worth $1,048,000. Montecito Bank & Trust purchased a new stake in iShares 5-10 Year Investment Grade Corporate Bond ETF in the 3rd quarter valued at $2,017,000. CoreCap Advisors LLC grew its holdings in iShares 5-10 Year Investment Grade Corporate Bond ETF by 28.1% in the 3rd quarter. CoreCap Advisors LLC now owns 234,396 shares of the company’s stock valued at $11,802,000 after buying an additional 51,368 shares in the last quarter. Finally, RMG Wealth Management LLC acquired a new stake in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF in the 1st quarter worth $57,452,000. 76.98% of the stock is currently owned by hedge funds and other institutional investors.

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

IGIB traded down $0.04 on Friday, reaching $50.59. 1,682,869 shares of the company’s stock were exchanged, compared to its average volume of 3,092,964. iShares 5-10 Year Investment Grade Corporate Bond ETF has a twelve month low of $49.94 and a twelve month high of $54.58. The stock’s fifty day moving average price is $50.93 and its 200-day moving average price is $52.57.

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

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

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.