iShares iBonds Dec 2029 Term Corporate ETF (NYSEARCA:IBDU) Sees Strong Trading Volume – Still a Buy?

iShares iBonds Dec 2029 Term Corporate ETF (NYSEARCA:IBDU) shares saw unusually-strong trading volume on Tuesday . Approximately 1,411,161 shares changed hands during trading, an increase of 291% from the previous session’s volume of 361,370 shares.The stock last traded at $22.92 and had previously closed at $22.99.

iShares iBonds Dec 2029 Term Corporate ETF Trading Down 0.3 %

The company’s 50-day simple moving average is $23.28 and its 200-day simple moving average is $22.98.

Hedge Funds Weigh In On iShares iBonds Dec 2029 Term Corporate ETF

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Confluence Investment Management LLC purchased a new stake in shares of iShares iBonds Dec 2029 Term Corporate ETF in the 3rd quarter worth approximately $5,798,000. Newman Dignan & Sheerar Inc. purchased a new stake in shares of iShares iBonds Dec 2029 Term Corporate ETF in the second quarter worth $3,135,000. Lyell Wealth Management LP raised its position in shares of iShares iBonds Dec 2029 Term Corporate ETF by 23.3% in the 3rd quarter. Lyell Wealth Management LP now owns 305,924 shares of the company’s stock worth $7,192,000 after purchasing an additional 57,724 shares during the last quarter. Adirondack Trust Co. boosted its stake in iShares iBonds Dec 2029 Term Corporate ETF by 108.9% in the 3rd quarter. Adirondack Trust Co. now owns 42,731 shares of the company’s stock worth $1,004,000 after purchasing an additional 22,271 shares in the last quarter. Finally, Spinnaker Trust grew its position in iShares iBonds Dec 2029 Term Corporate ETF by 70.2% during the 3rd quarter. Spinnaker Trust now owns 53,268 shares of the company’s stock valued at $1,252,000 after purchasing an additional 21,971 shares during the last quarter.

About iShares iBonds Dec 2029 Term Corporate ETF

The iShares iBonds Dec 2029 Term Corporate ETF (IBDU) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund tracks a Bloomberg index of USD-denominated, investment-grade corporate bonds maturing between Jan 1 and Dec 15, 2029. IBDU was launched on Sep 17, 2019 and is managed by BlackRock.