New Harbor Financial Group LLC Makes New $46.77 Million Investment in iShares 1-3 Year Treasury Bond ETF $SHY

New Harbor Financial Group LLC purchased a new stake in shares of iShares 1-3 Year Treasury Bond ETF (NASDAQ:SHY) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 575,960 shares of the company’s stock, valued at approximately $46,768,000. iShares 1-3 Year Treasury Bond ETF accounts for 7.0% of New Harbor Financial Group LLC’s investment portfolio, making the stock its 2nd largest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of SHY. Bank of America Corp DE raised its stake in shares of iShares 1-3 Year Treasury Bond ETF by 28.3% in the first quarter. Bank of America Corp DE now owns 15,649,532 shares of the company’s stock worth $1,292,182,000 after buying an additional 3,451,890 shares during the period. Bank of New York Mellon Corp lifted its position in shares of iShares 1-3 Year Treasury Bond ETF by 3.0% during the 1st quarter. Bank of New York Mellon Corp now owns 5,713,736 shares of the company’s stock valued at $471,783,000 after buying an additional 165,473 shares in the last quarter. RPOA Advisors Inc. purchased a new position in shares of iShares 1-3 Year Treasury Bond ETF during the 3rd quarter valued at about $301,889,000. The Manufacturers Life Insurance Company lifted its position in shares of iShares 1-3 Year Treasury Bond ETF by 225.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,545,364 shares of the company’s stock valued at $291,110,000 after buying an additional 2,454,485 shares in the last quarter. Finally, Assetmark Inc. grew its stake in shares of iShares 1-3 Year Treasury Bond ETF by 46.1% during the 1st quarter. Assetmark Inc. now owns 3,175,680 shares of the company’s stock valued at $262,216,000 after acquiring an additional 1,002,453 shares during the period. Hedge funds and other institutional investors own 23.15% of the company’s stock.

iShares 1-3 Year Treasury Bond ETF Price Performance

Shares of NASDAQ:SHY traded down $0.02 during mid-day trading on Friday, reaching $81.50. 3,485,977 shares of the company traded hands, compared to its average volume of 4,246,632. The company’s 50 day moving average price is $81.47 and its 200-day moving average price is $81.88. The firm has a market cap of $27.27 billion, a PE ratio of 3,747.73 and a beta of 0.05. iShares 1-3 Year Treasury Bond ETF has a 52 week low of $80.95 and a 52 week high of $83.20.

iShares 1-3 Year Treasury Bond ETF Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Tuesday, October 6th. Shareholders of record on Thursday, October 1st were issued a dividend of $0.2410 per share. This is a decrease from iShares 1-3 Year Treasury Bond ETF’s previous monthly dividend of $0.2440. This represents a $2.89 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Thursday, October 1st.

iShares 1-3 Year Treasury Bond ETF Profile

The iShares 1-3 Year Treasury Bond ETF (SHY) is an exchange-traded fund that is based on the U.S. Treasury 1-3 Year index. The fund tracks a market weighted index of debt issued by the US Treasury with 1-3 years remaining to maturity. Treasury STRIPS are excluded. SHY was launched on Jul 22, 2002 and is managed by BlackRock.