Mechanics Financial Corp Lowers Holdings in iShares 5-10 Year Investment Grade Corporate Bond ETF (NASDAQ:IGIB)

Mechanics Financial Corp trimmed its holdings in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF (NASDAQ:IGIB) by 42.3% during the 4th quarter, Holdings Channel reports. The fund owned 764 shares of the company’s stock after selling 560 shares during the period. Mechanics Financial Corp’s holdings in iShares 5-10 Year Investment Grade Corporate Bond ETF were worth $39,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in IGIB. SBI Securities Co. Ltd. purchased a new position in iShares 5-10 Year Investment Grade Corporate Bond ETF during the fourth quarter valued at approximately $28,000. MassMutual Private Wealth & Trust FSB boosted its position in iShares 5-10 Year Investment Grade Corporate Bond ETF by 205.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,160 shares of the company’s stock valued at $60,000 after acquiring an additional 780 shares in the last quarter. SouthState Corp purchased a new position in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF in the 4th quarter valued at $63,000. General Partner Inc. bought a new position in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF in the 4th quarter worth $86,000. Finally, Providence First Trust Co purchased a new stake in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF during the 4th quarter worth $103,000. Hedge funds and other institutional investors own 76.98% of the company’s stock.

iShares 5-10 Year Investment Grade Corporate Bond ETF Stock Up 0.5 %

Shares of IGIB stock opened at $52.44 on Friday. The stock’s 50-day moving average is $52.07 and its 200 day moving average is $52.31. iShares 5-10 Year Investment Grade Corporate Bond ETF has a 1-year low of $49.91 and a 1-year high of $54.10.

iShares 5-10 Year Investment Grade Corporate Bond ETF Increases Dividend

The company also recently declared a dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, March 3rd were issued a $0.1981 dividend. This is a positive change from iShares 5-10 Year Investment Grade Corporate Bond ETF’s previous dividend of $0.20. The ex-dividend date of this dividend was Monday, March 3rd.

iShares 5-10 Year Investment Grade Corporate Bond ETF Company Profile

The iShares 5-10 Year Investment Grade Corporate Bond ETF (IGIB) is an exchange-traded fund that is based on the ICE BofA US Corporate (5-10 Y) index. The fund tracks a market-value-weighted index of USD-denominated, investment grade corporate debt with maturities between 5-10 years. IGIB was launched on Jan 5, 2007 and is managed by BlackRock.