iShares iBoxx $ Investment Grade Corporate Bond ETF (NYSEARCA:LQD) Stock Pass Above Fifty Day Moving Average – Here’s What Happened

iShares iBoxx $ Investment Grade Corporate Bond ETF (NYSEARCA:LQD)’s share price crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $108.90 and traded as high as $109.12. iShares iBoxx $ Investment Grade Corporate Bond ETF shares last traded at $108.91, with a volume of 27,509,256 shares changing hands.

iShares iBoxx $ Investment Grade Corporate Bond ETF Stock Up 0.1%

The stock has a market capitalization of $30.87 billion, a P/E ratio of 32.25 and a beta of 0.44. The firm’s 50-day simple moving average is $108.90 and its 200 day simple moving average is $109.77.

Institutional Investors Weigh In On iShares iBoxx $ Investment Grade Corporate Bond ETF

A number of institutional investors and hedge funds have recently modified their holdings of LQD. JPMorgan Chase & Co. increased its position in shares of 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 worth $433,291,000 after acquiring an additional 3,190,347 shares in the last quarter. Penn Mutual Asset Management purchased a new stake in shares of iShares iBoxx $ Investment Grade Corporate Bond ETF in the 4th quarter valued at approximately $142,182,000. BNP Paribas boosted its stake in iShares iBoxx $ Investment Grade Corporate Bond ETF by 72.5% in the 3rd quarter. BNP Paribas now owns 2,064,255 shares of the exchange traded fund’s stock worth $230,103,000 after purchasing an additional 867,401 shares during the period. Payden & Rygel acquired a new position in iShares iBoxx $ Investment Grade Corporate Bond ETF in the 4th quarter worth approximately $51,172,000. Finally, SG Americas Securities LLC grew its position in iShares iBoxx $ Investment Grade Corporate Bond ETF by 6,160.6% during the 1st quarter. SG Americas Securities LLC now owns 241,595 shares of the exchange traded fund’s stock worth $26,331,000 after purchasing an additional 237,736 shares in the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

About iShares iBoxx $ Investment Grade Corporate Bond ETF

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.