iShares iBoxx $ Investment Grade Corporate Bond ETF (NYSEARCA:LQD) Hits New 1-Year Low – Time to Sell?

iShares iBoxx $ Investment Grade Corporate Bond ETF (NYSEARCA:LQD)’s stock price reached a new 52-week low on Wednesday . The company traded as low as $104.03 and last traded at $103.9850, with a volume of 12631435 shares trading hands. The stock had previously closed at $105.09.

iShares iBoxx $ Investment Grade Corporate Bond ETF Price Performance

The firm’s 50 day moving average price is $106.00 and its 200-day moving average price is $107.85. The stock has a market cap of $27.83 billion, a P/E ratio of 32.25 and a beta of 0.44.

Hedge Funds Weigh In On iShares iBoxx $ Investment Grade Corporate Bond ETF

A number of hedge funds have recently added to or reduced their stakes in LQD. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in iShares iBoxx $ Investment Grade Corporate Bond ETF during the 4th quarter valued at $32,000. Comprehensive Financial Planning Inc. PA raised its stake in shares of iShares iBoxx $ Investment Grade Corporate Bond ETF by 175.4% in the fourth quarter. Comprehensive Financial Planning Inc. PA now owns 336 shares of the exchange traded fund’s stock worth $37,000 after purchasing an additional 214 shares during the last quarter. Park National Corp OH purchased a new position in shares of iShares iBoxx $ Investment Grade Corporate Bond ETF in the first quarter worth $43,000. Union Savings Bank bought a new position in shares of iShares iBoxx $ Investment Grade Corporate Bond ETF during the fourth quarter valued at $63,000. Finally, NBT Bank N A NY boosted its position in shares of iShares iBoxx $ Investment Grade Corporate Bond ETF by 646.4% during the first quarter. NBT Bank N A NY now owns 821 shares of the exchange traded fund’s stock valued at $89,000 after buying an additional 711 shares during the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

iShares iBoxx $ Investment Grade Corporate Bond ETF Company Profile

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.