iShares 5-10 Year Investment Grade Corporate Bond ETF (NASDAQ:IGIB) Shares Shorted: Short Interest Up 190.4% in September

iShares 5-10 Year Investment Grade Corporate Bond ETF (NASDAQ:IGIB) was the recipient of a significant increase in short interest during the month of September. As of September 30th, there was short interest totaling 5,109,962 shares, an increase of 190.4% from the September 15th total of 1,759,624 shares. Approximately 1.4% of the shares of the company are sold short. Based on an average daily trading volume, of 4,128,644 shares, the days-to-cover ratio is presently 1.2 days.

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

Large investors have recently added to or reduced their stakes in the business. First County Bank CT acquired a new stake in iShares 5-10 Year Investment Grade Corporate Bond ETF during the 3rd quarter valued at $477,000. CoreCap Advisors LLC increased its holdings in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF by 28.1% in the third quarter. CoreCap Advisors LLC now owns 234,396 shares of the company’s stock valued at $11,802,000 after purchasing an additional 51,368 shares during the last quarter. Montecito Bank & Trust acquired a new position in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF in the third quarter valued at $2,017,000. Strive Financial Group LLC acquired a new position in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF in the second quarter valued at $43,000. Finally, Continuum Advisory LLC bought a new position in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF in the second quarter valued at about $235,000. Institutional investors own 76.98% of the company’s stock.

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

NASDAQ:IGIB traded down $0.01 on Tuesday, hitting $50.48. The company’s stock had a trading volume of 4,398,409 shares, compared to its average volume of 3,023,755. The stock has a fifty day moving average of $51.52 and a two-hundred day moving average of $52.47. iShares 5-10 Year Investment Grade Corporate Bond ETF has a one year low of $49.94 and a one year high of $54.58.

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

The firm also recently announced a monthly dividend, which was paid on Tuesday, October 6th. Investors of record on Thursday, October 1st were issued a dividend of $0.2206 per share. This represents a $2.65 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend was Thursday, October 1st. This is a drop from iShares 5-10 Year Investment Grade Corporate Bond ETF’s previous monthly dividend of $0.2219.

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.