iShares iBoxx $ Investment Grade Corporate Bond ETF (NYSEARCA:LQD) Hits New 52-Week Low – Here’s Why

Shares of iShares iBoxx $ Investment Grade Corporate Bond ETF (NYSEARCA:LQD) hit a new 52-week low during trading on Friday . The stock traded as low as $106.07 and last traded at $106.11, with a volume of 3571925 shares traded. The stock had previously closed at $106.41.

iShares iBoxx $ Investment Grade Corporate Bond ETF Stock Down 0.2%

The firm has a market capitalization of $34.04 billion, a price-to-earnings ratio of 32.25 and a beta of 0.43. The stock has a 50 day moving average of $108.20 and a 200 day moving average of $109.24.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in iShares iBoxx $ Investment Grade Corporate Bond ETF by 430.0% in the fourth quarter. JPMorgan Chase & Co. now owns 3,932,215 shares of the exchange traded fund’s stock valued at $433,291,000 after acquiring an additional 3,190,347 shares during the period. Penn Mutual Asset Management bought a new position in iShares iBoxx $ Investment Grade Corporate Bond ETF during the 4th quarter worth $142,182,000. Payden & Rygel acquired a new stake in iShares iBoxx $ Investment Grade Corporate Bond ETF in the fourth quarter worth $51,172,000. BNP Paribas increased its position in iShares iBoxx $ Investment Grade Corporate Bond ETF by 14.4% in the fourth quarter. BNP Paribas now owns 2,362,313 shares of the exchange traded fund’s stock worth $260,303,000 after buying an additional 298,058 shares during the period. Finally, SG Americas Securities LLC lifted its stake in iShares iBoxx $ Investment Grade Corporate Bond ETF by 6,160.6% in the first quarter. SG Americas Securities LLC now owns 241,595 shares of the exchange traded fund’s stock valued at $26,331,000 after buying an additional 237,736 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

iShares iBoxx $ Investment Grade Corporate Bond ETF Company Profile

iShares iBoxx $ Investment Grade Corporate Bond ETF (the Fund), formerly iShares iBoxx $ Investment Grade Corporate Bond Fund, is an exchange-traded fund (ETF). The Fund seeks to track the investment results of the Markit iBoxx USD Liquid Investment Grade Index (the Index), which is a rules-based index consisting of liquid, the United States dollar-denominated, investment-grade corporate bonds for sale in the United States. The Index may include large-, mid- or small-capitalization companies, and components primarily include consumer services, financial, and oil and gas companies.