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) shares saw strong trading volume on Tuesday after the company announced a dividend. 3,489,698 shares changed hands during mid-day 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. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.2004 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.41 annualized dividend and a yield of 4.58%. This is an increase from iShares 5-10 Year Investment Grade Corporate Bond ETF’s previous monthly dividend of $0.19.

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

The stock has a 50-day simple moving average of $52.13 and a 200-day simple moving average of $52.27.

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

Hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its stake in iShares 5-10 Year Investment Grade Corporate Bond ETF by 133.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,447,483 shares of the company’s stock valued at $131,479,000 after buying an additional 1,399,131 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF by 30.2% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 435,600 shares of the company’s stock valued at $22,438,000 after acquiring an additional 101,092 shares in the last quarter. One Capital Management LLC boosted its holdings in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF by 1.3% in the fourth quarter. One Capital Management LLC now owns 4,548,612 shares of the company’s stock valued at $234,299,000 after acquiring an additional 57,363 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF during the fourth quarter valued at approximately $28,000. Finally, General Partner Inc. bought a new stake in iShares 5-10 Year Investment Grade Corporate Bond ETF during the fourth quarter worth approximately $86,000. 76.98% of the stock is currently owned by 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.