iShares 5-10 Year Investment Grade Corporate Bond ETF (NASDAQ:IGIB) Sees Large Volume Increase Following Dividend Announcement

iShares 5-10 Year Investment Grade Corporate Bond ETF (NASDAQ:IGIB) saw strong trading volume on Tuesday following a dividend announcement from the company. 3,489,698 shares were traded during trading, an increase of 71% from the previous session’s volume of 2,037,018 shares.The stock last traded at $52.51 and had previously closed at $52.52.

The newly announced dividend which will be paid on Friday, April 4th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.2004 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This is a boost from iShares 5-10 Year Investment Grade Corporate Bond ETF’s previous monthly dividend of $0.19. This represents a $2.41 annualized dividend and a yield of 4.58%.

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

The company has a fifty day simple moving average of $52.13 and a two-hundred day simple moving average of $52.27.

Institutional Investors Weigh In On iShares 5-10 Year Investment Grade Corporate Bond ETF

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

iShares 5-10 Year Investment Grade Corporate Bond ETF Company Profile

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.