Short Interest in iShares 5-10 Year Investment Grade Corporate Bond ETF (NASDAQ:IGIB) Increases By 29.2%

iShares 5-10 Year Investment Grade Corporate Bond ETF (NASDAQ:IGIB) was the recipient of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 2,170,000 shares, a growth of 29.2% from the February 13th total of 1,680,000 shares. Based on an average daily volume of 2,073,800 shares, the days-to-cover ratio is presently 1.0 days. Currently, 0.8% of the shares of the company are short sold.

iShares 5-10 Year Investment Grade Corporate Bond ETF Price Performance

IGIB opened at $52.25 on Wednesday. The company’s 50 day moving average is $51.89 and its 200 day moving average is $52.35. iShares 5-10 Year Investment Grade Corporate Bond ETF has a 12-month low of $49.91 and a 12-month high of $54.10.

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

The company also recently declared a dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.1981 per share. The ex-dividend date was Monday, March 3rd. This is an increase from iShares 5-10 Year Investment Grade Corporate Bond ETF’s previous dividend of $0.20.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in IGIB. SBI Securities Co. Ltd. bought a new position in iShares 5-10 Year Investment Grade Corporate Bond ETF during the fourth quarter valued at approximately $28,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF by 205.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,160 shares of the company’s stock worth $60,000 after purchasing an additional 780 shares during the last quarter. SouthState Corp purchased a new position in iShares 5-10 Year Investment Grade Corporate Bond ETF during the 4th quarter worth $63,000. General Partner Inc. purchased a new stake in iShares 5-10 Year Investment Grade Corporate Bond ETF in the fourth quarter worth about $86,000. Finally, Providence First Trust Co bought a new position in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF during the fourth quarter valued at approximately $103,000. 76.98% of the stock is owned by hedge funds and other institutional investors.

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.