Kovack Advisors Inc. Lowers Holdings in iShares 1-3 Year Treasury Bond ETF (NASDAQ:SHY)

Kovack Advisors Inc. trimmed its stake in iShares 1-3 Year Treasury Bond ETF (NASDAQ:SHY) by 11.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,974 shares of the company’s stock after selling 809 shares during the quarter. Kovack Advisors Inc.’s holdings in iShares 1-3 Year Treasury Bond ETF were worth $497,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. WestEnd Advisors LLC purchased a new stake in iShares 1-3 Year Treasury Bond ETF during the 2nd quarter valued at $30,000. Financial Connections Group Inc. bought a new position in shares of iShares 1-3 Year Treasury Bond ETF during the second quarter valued at $31,000. Rational Advisors LLC purchased a new stake in shares of iShares 1-3 Year Treasury Bond ETF during the second quarter valued at $67,000. Global Trust Asset Management LLC bought a new stake in iShares 1-3 Year Treasury Bond ETF in the 3rd quarter worth about $68,000. Finally, Creative Financial Designs Inc. ADV increased its holdings in iShares 1-3 Year Treasury Bond ETF by 23.3% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 883 shares of the company’s stock worth $73,000 after buying an additional 167 shares in the last quarter. 23.62% of the stock is owned by hedge funds and other institutional investors.

iShares 1-3 Year Treasury Bond ETF Stock Performance

SHY opened at $81.93 on Friday. The company’s 50-day simple moving average is $82.65 and its two-hundred day simple moving average is $82.13. The stock has a market capitalization of $22.13 billion, a P/E ratio of 3,695.45 and a beta of 0.01. iShares 1-3 Year Treasury Bond ETF has a 52-week low of $80.91 and a 52-week high of $83.30.

iShares 1-3 Year Treasury Bond ETF Increases Dividend

The business also recently announced a monthly dividend, which was paid on Wednesday, November 6th. Investors of record on Friday, November 1st were issued a $0.2831 dividend. The ex-dividend date was Friday, November 1st. This represents a $3.40 annualized dividend and a yield of 4.15%. This is a boost from iShares 1-3 Year Treasury Bond ETF’s previous monthly dividend of $0.27.

iShares 1-3 Year Treasury Bond ETF Company 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.