Short Interest in iShares Broad USD Investment Grade Corporate Bond ETF (NASDAQ:USIG) Rises By 174.7%

iShares Broad USD Investment Grade Corporate Bond ETF (NASDAQ:USIG) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 1,840,000 shares, a growth of 174.7% from the August 15th total of 669,800 shares. Based on an average daily volume of 1,066,900 shares, the short-interest ratio is currently 1.7 days.

iShares Broad USD Investment Grade Corporate Bond ETF Price Performance

Shares of USIG stock traded up $0.17 during mid-day trading on Friday, reaching $52.65. The stock had a trading volume of 303,412 shares, compared to its average volume of 1,083,801. The stock’s 50-day moving average price is $51.45 and its two-hundred day moving average price is $50.62. iShares Broad USD Investment Grade Corporate Bond ETF has a 52-week low of $46.70 and a 52-week high of $52.66.

iShares Broad USD Investment Grade Corporate Bond ETF Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, September 6th. Shareholders of record on Tuesday, September 3rd were given a $0.1913 dividend. The ex-dividend date was Tuesday, September 3rd.

Hedge Funds Weigh In On iShares Broad USD Investment Grade Corporate Bond ETF

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Kingfisher Capital LLC increased its position in shares of iShares Broad USD Investment Grade Corporate Bond ETF by 2.4% during the second quarter. Kingfisher Capital LLC now owns 19,855 shares of the company’s stock valued at $997,000 after buying an additional 474 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of iShares Broad USD Investment Grade Corporate Bond ETF by 14.9% during the second quarter. EverSource Wealth Advisors LLC now owns 33,228 shares of the company’s stock valued at $1,702,000 after buying an additional 4,318 shares during the period. Waterloo Capital L.P. increased its position in shares of iShares Broad USD Investment Grade Corporate Bond ETF by 11.1% during the second quarter. Waterloo Capital L.P. now owns 190,167 shares of the company’s stock valued at $9,548,000 after buying an additional 19,023 shares during the period. TIAA Trust National Association increased its position in shares of iShares Broad USD Investment Grade Corporate Bond ETF by 50.3% during the second quarter. TIAA Trust National Association now owns 4,727,212 shares of the company’s stock valued at $237,353,000 after buying an additional 1,582,867 shares during the period. Finally, Crestwood Advisors Group LLC increased its position in shares of iShares Broad USD Investment Grade Corporate Bond ETF by 17.3% during the second quarter. Crestwood Advisors Group LLC now owns 203,320 shares of the company’s stock valued at $10,209,000 after buying an additional 29,929 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.