Summit Global Investments Purchases 46,254 Shares of iShares 7-10 Year Treasury Bond ETF (NASDAQ:IEF)

Summit Global Investments increased its stake in iShares 7-10 Year Treasury Bond ETF (NASDAQ:IEF) by 449.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 56,551 shares of the exchange traded fund’s stock after purchasing an additional 46,254 shares during the quarter. Summit Global Investments’ holdings in iShares 7-10 Year Treasury Bond ETF were worth $5,393,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in IEF. Montag A & Associates Inc. grew its stake in iShares 7-10 Year Treasury Bond ETF by 113.5% during the fourth quarter. Montag A & Associates Inc. now owns 301 shares of the exchange traded fund’s stock valued at $28,000 after acquiring an additional 160 shares in the last quarter. BankPlus Trust Department bought a new stake in iShares 7-10 Year Treasury Bond ETF in the fourth quarter valued at approximately $31,000. Wood Tarver Financial Group LLC purchased a new stake in shares of iShares 7-10 Year Treasury Bond ETF during the fourth quarter worth about $37,000. Park Square Financial Group LLC purchased a new stake in iShares 7-10 Year Treasury Bond ETF in the fourth quarter worth $37,000. Finally, Menard Financial Group LLC purchased a new position in shares of iShares 7-10 Year Treasury Bond ETF during the 4th quarter worth approximately $38,000. 81.48% of the stock is owned by hedge funds and other institutional investors.

iShares 7-10 Year Treasury Bond ETF Stock Performance

IEF stock opened at $94.29 on Friday. The firm has a 50 day moving average price of $94.58 and a 200-day moving average price of $93.88. The firm has a market capitalization of $34.13 billion, a price-to-earnings ratio of -22.10 and a beta of 0.05. iShares 7-10 Year Treasury Bond ETF has a 52-week low of $91.08 and a 52-week high of $99.18.

iShares 7-10 Year Treasury Bond ETF Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Tuesday, May 6th. Investors of record on Thursday, May 1st were given a $0.3134 dividend. The ex-dividend date of this dividend was Thursday, May 1st. This is a boost from iShares 7-10 Year Treasury Bond ETF’s previous monthly dividend of $0.30. This represents a $3.76 annualized dividend and a yield of 3.99%.

About iShares 7-10 Year Treasury Bond ETF

iShares 7-10 Year Treasury Bond ETF (the Fund) is an is an exchange-traded fund. The Fund seeks to track the investment results of an index composed of the United States Treasury bonds with remaining maturities between seven and ten years. The Fund seeks to track the investment results of the Barclays U.S.