iShares 1-5 Year Investment Grade Corporate Bond ETF (NASDAQ:IGSB) Sees Significant Drop in Short Interest

iShares 1-5 Year Investment Grade Corporate Bond ETF (NASDAQ:IGSB) was the target of a significant drop in short interest during the month of December. As of December 31st, there was short interest totalling 1,610,000 shares, a drop of 61.9% from the December 15th total of 4,230,000 shares. Based on an average daily volume of 2,919,200 shares, the days-to-cover ratio is presently 0.6 days.

Institutional Investors Weigh In On iShares 1-5 Year Investment Grade Corporate Bond ETF

Several hedge funds and other institutional investors have recently made changes to their positions in IGSB. Captrust Financial Advisors raised its stake in shares of iShares 1-5 Year Investment Grade Corporate Bond ETF by 26.5% in the third quarter. Captrust Financial Advisors now owns 2,747,270 shares of the company’s stock valued at $144,672,000 after acquiring an additional 574,897 shares during the period. Graypoint LLC raised its stake in shares of iShares 1-5 Year Investment Grade Corporate Bond ETF by 130.4% in the fourth quarter. Graypoint LLC now owns 350,799 shares of the company’s stock valued at $18,136,000 after acquiring an additional 198,552 shares during the period. TD Private Client Wealth LLC raised its stake in shares of iShares 1-5 Year Investment Grade Corporate Bond ETF by 24.9% in the third quarter. TD Private Client Wealth LLC now owns 401,020 shares of the company’s stock valued at $21,118,000 after acquiring an additional 79,919 shares during the period. Marshall Wace LLP raised its stake in shares of iShares 1-5 Year Investment Grade Corporate Bond ETF by 57.1% in the second quarter. Marshall Wace LLP now owns 219,900 shares of the company’s stock valued at $11,268,000 after acquiring an additional 79,900 shares during the period. Finally, Strategic Advocates LLC raised its stake in shares of iShares 1-5 Year Investment Grade Corporate Bond ETF by 61.5% in the third quarter. Strategic Advocates LLC now owns 163,926 shares of the company’s stock valued at $8,632,000 after acquiring an additional 62,428 shares during the period. Hedge funds and other institutional investors own 76.06% of the company’s stock.

iShares 1-5 Year Investment Grade Corporate Bond ETF Trading Up 0.4 %

IGSB stock opened at $51.76 on Thursday. iShares 1-5 Year Investment Grade Corporate Bond ETF has a 52 week low of $50.58 and a 52 week high of $52.74. The company has a fifty day simple moving average of $51.82 and a two-hundred day simple moving average of $51.98.

iShares 1-5 Year Investment Grade Corporate Bond ETF Cuts Dividend

The firm also recently disclosed a monthly dividend, which was paid on Monday, December 23rd. Shareholders of record on Wednesday, December 18th were given a dividend of $0.181 per share. The ex-dividend date was Wednesday, December 18th. This represents a $2.17 annualized dividend and a yield of 4.20%.

About iShares 1-5 Year Investment Grade Corporate Bond ETF

The iShares 1-5 Year Investment Grade Corporate Bond ETF (IGSB) is an exchange-traded fund that is based on the ICE BofA US Corporate (1-5 Y) index. The fund tracks a market-value-weighted index of US dollar-denominated, investment-grade corporate debt with 1-5 years remaining in maturity. IGSB was launched on Jan 5, 2007 and is managed by BlackRock.