iShares Broad USD Investment Grade Corporate Bond ETF (NASDAQ:USIG) Reaches New 1-Year Low – Time to Sell?

Shares of iShares Broad USD Investment Grade Corporate Bond ETF (NASDAQ:USIG) hit a new 52-week low on Wednesday . The company traded as low as $50.45 and last traded at $50.46, with a volume of 48970 shares. The stock had previously closed at $50.50.

iShares Broad USD Investment Grade Corporate Bond ETF Trading Down 0.3%

The company’s fifty day moving average price is $50.99 and its 200-day moving average price is $51.41.

iShares Broad USD Investment Grade Corporate Bond ETF Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Wednesday, July 1st were given a dividend of $0.2016 per share. This represents a c) annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend was Wednesday, July 1st.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Ameriprise Financial Inc. raised its stake in iShares Broad USD Investment Grade Corporate Bond ETF by 21.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 9,978,176 shares of the company’s stock worth $509,873,000 after acquiring an additional 1,735,043 shares during the last quarter. BNP Paribas Financial Markets grew its stake in iShares Broad USD Investment Grade Corporate Bond ETF by 22.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 80,100 shares of the company’s stock valued at $4,120,000 after purchasing an additional 14,800 shares during the last quarter. Tolleson Wealth Management Inc. grew its stake in iShares Broad USD Investment Grade Corporate Bond ETF by 18.5% during the 2nd quarter. Tolleson Wealth Management Inc. now owns 33,073 shares of the company’s stock valued at $1,701,000 after purchasing an additional 5,175 shares during the last quarter. Captrust Financial Advisors grew its stake in iShares Broad USD Investment Grade Corporate Bond ETF by 2.6% during the 2nd quarter. Captrust Financial Advisors now owns 539,087 shares of the company’s stock valued at $27,731,000 after purchasing an additional 13,481 shares during the last quarter. Finally, Parallel Advisors LLC increased its holdings in shares of iShares Broad USD Investment Grade Corporate Bond ETF by 64.5% in the third quarter. Parallel Advisors LLC now owns 3,450 shares of the company’s stock valued at $180,000 after purchasing an additional 1,353 shares during the period.

About iShares Broad USD Investment Grade Corporate Bond ETF

The iShares Broad USD Investment Grade Corporate Bond ETF (USIG) is an exchange-traded fund that is based on the ICE BofA US Corporate index. The fund tracks a market-value-weighted index of USD-denominated, investment-grade corporate debt. USIG was launched on Jan 5, 2007 and is managed by BlackRock.