Short Interest in iShares Broad USD Investment Grade Corporate Bond ETF (NASDAQ:USIG) Decreases By 69.5%

iShares Broad USD Investment Grade Corporate Bond ETF (NASDAQ:USIG) was the recipient of a large drop in short interest in March. As of March 31st, there was short interest totalling 569,900 shares, a drop of 69.5% from the March 15th total of 1,870,000 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average trading volume of 1,503,900 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its position in shares of iShares Broad USD Investment Grade Corporate Bond ETF by 37.3% during the first quarter. Farther Finance Advisors LLC now owns 6,234 shares of the company’s stock worth $318,000 after acquiring an additional 1,695 shares during the last quarter. ST Germain D J Co. Inc. boosted its stake in iShares Broad USD Investment Grade Corporate Bond ETF by 22.8% during the 1st quarter. ST Germain D J Co. Inc. now owns 339,309 shares of the company’s stock worth $17,332,000 after purchasing an additional 62,906 shares during the period. NBC Securities Inc. purchased a new position in iShares Broad USD Investment Grade Corporate Bond ETF during the 1st quarter worth $39,000. Parallel Advisors LLC increased its stake in iShares Broad USD Investment Grade Corporate Bond ETF by 46.6% in the first quarter. Parallel Advisors LLC now owns 1,976 shares of the company’s stock valued at $101,000 after purchasing an additional 628 shares during the period. Finally, AdvisorNet Financial Inc raised its holdings in shares of iShares Broad USD Investment Grade Corporate Bond ETF by 45.3% in the first quarter. AdvisorNet Financial Inc now owns 898 shares of the company’s stock valued at $46,000 after buying an additional 280 shares during the last quarter.

iShares Broad USD Investment Grade Corporate Bond ETF Stock Performance

NASDAQ USIG opened at $49.98 on Tuesday. The company has a fifty day moving average of $50.76 and a two-hundred day moving average of $50.89. iShares Broad USD Investment Grade Corporate Bond ETF has a 1 year low of $49.08 and a 1 year high of $52.94.

iShares Broad USD Investment Grade Corporate Bond ETF Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Friday, April 4th. Investors of record on Tuesday, April 1st were paid a dividend of $0.1947 per share. The ex-dividend date was Tuesday, April 1st. This represents a $2.34 dividend on an annualized basis and a yield of 4.68%.

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.