iShares Broad USD Investment Grade Corporate Bond ETF (NASDAQ:USIG) Sees Significant Growth in Short Interest

iShares Broad USD Investment Grade Corporate Bond ETF (NASDAQ:USIGGet Rating) was the recipient of a significant increase in short interest in May. As of May 15th, there was short interest totalling 1,240,000 shares, an increase of 1,210.8% from the April 30th total of 94,600 shares. Based on an average trading volume of 1,564,500 shares, the days-to-cover ratio is currently 0.8 days.

Several institutional investors have recently added to or reduced their stakes in the company. Assetmark Inc. increased its position in iShares Broad USD Investment Grade Corporate Bond ETF by 1,386.3% during the 3rd quarter. Assetmark Inc. now owns 3,061,442 shares of the company’s stock valued at $183,993,000 after purchasing an additional 2,855,469 shares during the period. Bank of New York Mellon Corp increased its position in iShares Broad USD Investment Grade Corporate Bond ETF by 7.2% during the 1st quarter. Bank of New York Mellon Corp now owns 1,320,824 shares of the company’s stock valued at $72,698,000 after purchasing an additional 88,167 shares during the period. Quent Capital LLC acquired a new stake in iShares Broad USD Investment Grade Corporate Bond ETF during the 4th quarter valued at approximately $3,820,000. Beaumont Capital Management LLC acquired a new stake in iShares Broad USD Investment Grade Corporate Bond ETF during the 4th quarter valued at approximately $3,029,000. Finally, Wayfinding Financial LLC acquired a new stake in iShares Broad USD Investment Grade Corporate Bond ETF during the 4th quarter valued at approximately $2,432,000.

NASDAQ USIG traded up $0.28 during trading on Wednesday, hitting $52.61. 22,883 shares of the company’s stock were exchanged, compared to its average volume of 1,529,637. The stock’s 50 day moving average price is $53.16 and its two-hundred day moving average price is $56.54. iShares Broad USD Investment Grade Corporate Bond ETF has a fifty-two week low of $51.10 and a fifty-two week high of $61.51.

The company also recently disclosed a monthly dividend, which was paid on Friday, May 6th. Stockholders of record on Tuesday, May 3rd were paid a $0.118 dividend. The ex-dividend date was Monday, May 2nd. This represents a $1.42 annualized dividend and a dividend yield of 2.69%. This is an increase from iShares Broad USD Investment Grade Corporate Bond ETF’s previous monthly dividend of $0.11.

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