iShares 5-10 Year Investment Grade Corporate Bond ETF (NASDAQ:IGIB) Sees Large Increase in Short Interest

iShares 5-10 Year Investment Grade Corporate Bond ETF (NASDAQ:IGIB) was the recipient of a large growth in short interest in the month of September. As of September 15th, there was short interest totaling 1,759,624 shares, a growth of 83.7% from the August 31st total of 957,954 shares. Based on an average daily volume of 3,055,394 shares, the short-interest ratio is currently 0.6 days. Approximately 0.5% of the company’s shares are short sold.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Archer Investment Corp grew its stake in iShares 5-10 Year Investment Grade Corporate Bond ETF by 874.5% during the 1st quarter. Archer Investment Corp now owns 497 shares of the company’s stock valued at $26,000 after acquiring an additional 446 shares in the last quarter. Rothschild Investment LLC acquired a new stake in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF during the fourth quarter worth approximately $40,000. Strive Financial Group LLC acquired a new stake in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF during the second quarter worth approximately $43,000. Nalls Sherbakoff Group LLC purchased a new position in iShares 5-10 Year Investment Grade Corporate Bond ETF during the fourth quarter valued at approximately $89,000. Finally, Root Financial Partners LLC grew its position in iShares 5-10 Year Investment Grade Corporate Bond ETF by 15.5% during the first quarter. Root Financial Partners LLC now owns 2,023 shares of the company’s stock valued at $108,000 after purchasing an additional 272 shares in the last quarter. 76.98% of the stock is owned by institutional investors and hedge funds.

iShares 5-10 Year Investment Grade Corporate Bond ETF Trading Down 0.2%

NASDAQ IGIB traded down $0.08 on Wednesday, hitting $50.34. 5,040,901 shares of the stock were exchanged, compared to its average volume of 2,972,629. The company’s 50-day moving average price is $51.83 and its two-hundred day moving average price is $52.63. iShares 5-10 Year Investment Grade Corporate Bond ETF has a 52-week low of $50.28 and a 52-week high of $54.58.

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

The firm also recently declared a monthly dividend, which was paid on Friday, September 4th. Stockholders of record on Tuesday, September 1st were issued a dividend of $0.2219 per share. This is a positive change from iShares 5-10 Year Investment Grade Corporate Bond ETF’s previous monthly dividend of $0.22. This represents a $2.66 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date was Tuesday, September 1st.

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.