Summit Financial Consulting LLC Makes New $26.41 Million Investment in iShares 7-10 Year Treasury Bond ETF $IEF

Summit Financial Consulting LLC bought a new position in iShares 7-10 Year Treasury Bond ETF (NASDAQ:IEF) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 295,650 shares of the exchange traded fund’s stock, valued at approximately $26,405,000. iShares 7-10 Year Treasury Bond ETF accounts for 19.4% of Summit Financial Consulting LLC’s investment portfolio, making the stock its largest holding.

Other large investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE raised its stake in shares of iShares 7-10 Year Treasury Bond ETF by 69.8% in the 1st quarter. Bank of America Corp DE now owns 22,900,079 shares of the exchange traded fund’s stock valued at $2,185,584,000 after purchasing an additional 9,414,689 shares during the period. Royal Bank of Canada lifted its holdings in shares of iShares 7-10 Year Treasury Bond ETF by 250.4% in the first quarter. Royal Bank of Canada now owns 3,388,286 shares of the exchange traded fund’s stock valued at $323,377,000 after purchasing an additional 2,421,315 shares in the last quarter. McElhenny Sheffield Capital Management LLC bought a new stake in shares of iShares 7-10 Year Treasury Bond ETF in the second quarter valued at about $96,223,000. Eastern Bank boosted its position in shares of iShares 7-10 Year Treasury Bond ETF by 136.0% during the third quarter. Eastern Bank now owns 1,346,447 shares of the exchange traded fund’s stock worth $120,251,000 after buying an additional 775,994 shares during the period. Finally, Moore Capital Management LP acquired a new position in shares of iShares 7-10 Year Treasury Bond ETF during the second quarter worth about $72,819,000. Institutional investors own 81.48% of the company’s stock.

iShares 7-10 Year Treasury Bond ETF Price Performance

IEF stock opened at $90.35 on Friday. The stock has a market capitalization of $41.71 billion, a P/E ratio of -22.00 and a beta of 0.26. iShares 7-10 Year Treasury Bond ETF has a fifty-two week low of $88.64 and a fifty-two week high of $98.04. The business has a 50-day moving average of $91.35 and a 200-day moving average of $93.26.

iShares 7-10 Year Treasury Bond ETF Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Tuesday, October 6th. Investors of record on Thursday, October 1st were given a $0.3069 dividend. The ex-dividend date of this dividend was Thursday, October 1st. This represents a $3.68 dividend on an annualized basis and a yield of 4.1%. This is a drop from iShares 7-10 Year Treasury Bond ETF’s previous monthly dividend of $0.3320.

iShares 7-10 Year Treasury Bond ETF Company Profile

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. 7-10 Year Treasury Bond Index (the Underlying Index), which measures the performance of public obligations of the United States Treasury that have a remaining maturity of greater than or equal to seven years and less than ten years.