iShares GNMA Bond ETF (NASDAQ:GNMA – Get Rating) benefited from a significant drop in short-term interest rates in August. As of August 31, there was short interest totaling 438,200 shares, a decrease of 26.0% from the total of 592,000 shares as of August 15. Based on an average daily volume of 67,700 shares, the day-to-cover ratio is currently 6.5 days.
iShares GNMA Bond ETF Institutional Trading
Hedge funds have recently increased or reduced their stakes in the company. Windward Private Wealth Management Inc. purchased a new stake in iShares GNMA Bond ETF in the first quarter worth approximately $1,011,000. Strategic Wealth Advisors Group LLC purchased a new stake in iShares GNMA Bond ETF in the first quarter worth approximately $872,000. Investors Research Corp increased its stake in iShares GNMA Bond ETF by 28.7% in the first quarter. Investors Research Corp now owns 2,322 shares of the company worth $111,000 after acquiring 518 additional shares during the period. Addison Advisors LLC increased its stake in iShares GNMA Bond ETF by 1.1% in the first quarter. Addison Advisors LLC now owns 46,940 shares of the company worth $2,240,000 after acquiring an additional 526 shares during the period. Finally, SlateStone Wealth LLC purchased a new stake in iShares GNMA Bond ETF in the first quarter worth approximately $408,000.
iShares GNMA Bond ETF Stock down 0.1%
GNMA shares were down $0.03 during Friday trading hours, hitting $44.34. 44,067 shares of the company were traded, against an average volume of 68,602. iShares GNMA Bond ETF has a 12-month low of $44.15 and a 12-month high of $50.38. The stock’s fifty-day moving average price is $45.85 and its 200-day moving average price is $46.22.
iShares GNMA Bond ETF increases its dividend
The company also recently disclosed a monthly dividend, which was paid on Thursday, September 8. Investors of record on Friday, September 2 received a dividend of $0.082. The ex-dividend date was Thursday, September 1. This is a positive change from iShares GNMA Bond ETF’s previous monthly dividend of $0.07. This represents a dividend of $0.98 on an annualized basis and a yield of 2.22%.
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