iShares 5-10 Year Investment Grade Corporate Bond ETF (NASDAQ:IGIB) Reaches New 52-Week Low – What’s Next?

iShares 5-10 Year Investment Grade Corporate Bond ETF (NASDAQ:IGIB)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $51.12 and last traded at $51.0950, with a volume of 442313 shares traded. The stock had previously closed at $51.44.

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

The firm has a 50-day simple moving average of $52.07 and a 200 day simple moving average of $52.76.

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

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Madison Asset Management LLC raised its holdings in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF by 63.0% in the first quarter. Madison Asset Management LLC now owns 400,916 shares of the company’s stock valued at $21,337,000 after buying an additional 154,955 shares during the last quarter. Syon Capital LLC grew its holdings in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF by 2.5% during the fourth quarter. Syon Capital LLC now owns 525,501 shares of the company’s stock worth $28,314,000 after buying an additional 12,861 shares during the last quarter. North Dallas Bank & Trust Co. acquired a new position in iShares 5-10 Year Investment Grade Corporate Bond ETF in the 4th quarter valued at about $863,000. One Capital Management LLC increased its position in iShares 5-10 Year Investment Grade Corporate Bond ETF by 5.7% in the 4th quarter. One Capital Management LLC now owns 5,293,249 shares of the company’s stock valued at $285,200,000 after acquiring an additional 284,959 shares during the period. Finally, RMG Wealth Management LLC purchased a new stake in iShares 5-10 Year Investment Grade Corporate Bond ETF during the 1st quarter valued at approximately $57,452,000. 76.98% of the stock is currently owned by institutional investors and hedge funds.

About iShares 5-10 Year Investment Grade Corporate Bond ETF

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.