Kovack Advisors Inc. Reduces Stock Holdings in iShares 1-3 Year Treasury Bond ETF (NASDAQ:SHY)

Kovack Advisors Inc. reduced its position in shares of iShares 1-3 Year Treasury Bond ETF (NASDAQ:SHY) by 11.9% in the third quarter, HoldingsChannel reports. The firm owned 5,974 shares of the company’s stock after selling 809 shares during the quarter. Kovack Advisors Inc.’s holdings in iShares 1-3 Year Treasury Bond ETF were worth $497,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Patriot Financial Group Insurance Agency LLC lifted its position in iShares 1-3 Year Treasury Bond ETF by 5.0% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 2,758 shares of the company’s stock valued at $225,000 after purchasing an additional 131 shares in the last quarter. Patton Fund Management Inc. lifted its position in shares of iShares 1-3 Year Treasury Bond ETF by 1.8% during the 2nd quarter. Patton Fund Management Inc. now owns 7,767 shares of the company’s stock valued at $634,000 after buying an additional 140 shares in the last quarter. SPC Financial Inc. grew its stake in shares of iShares 1-3 Year Treasury Bond ETF by 2.3% during the 3rd quarter. SPC Financial Inc. now owns 6,275 shares of the company’s stock valued at $522,000 after acquiring an additional 140 shares during the period. Secure Asset Management LLC increased its holdings in iShares 1-3 Year Treasury Bond ETF by 2.0% in the 2nd quarter. Secure Asset Management LLC now owns 7,528 shares of the company’s stock worth $615,000 after acquiring an additional 148 shares in the last quarter. Finally, Aveo Capital Partners LLC increased its holdings in iShares 1-3 Year Treasury Bond ETF by 1.0% in the 2nd quarter. Aveo Capital Partners LLC now owns 15,054 shares of the company’s stock worth $1,229,000 after acquiring an additional 148 shares in the last quarter. Hedge funds and other institutional investors own 23.62% of the company’s stock.

iShares 1-3 Year Treasury Bond ETF Price Performance

Shares of NASDAQ:SHY opened at $81.93 on Friday. The company has a market capitalization of $22.13 billion, a P/E ratio of 3,695.45 and a beta of 0.01. iShares 1-3 Year Treasury Bond ETF has a 1-year low of $80.91 and a 1-year high of $83.30. The firm’s 50 day simple moving average is $82.65 and its two-hundred day simple moving average is $82.13.

iShares 1-3 Year Treasury Bond ETF Increases Dividend

The company also recently announced a monthly dividend, which was paid on Wednesday, November 6th. Investors of record on Friday, November 1st were paid a dividend of $0.2831 per share. This is a boost from iShares 1-3 Year Treasury Bond ETF’s previous monthly dividend of $0.27. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.15%.

About iShares 1-3 Year Treasury Bond ETF

The iShares 1-3 Year Treasury Bond ETF (SHY) is an exchange-traded fund that is based on the U.S. Treasury 1-3 Year index. The fund tracks a market weighted index of debt issued by the US Treasury with 1-3 years remaining to maturity. Treasury STRIPS are excluded. SHY was launched on Jul 22, 2002 and is managed by BlackRock.