iShares GNMA Bond ETF (NASDAQ:GNMA) sees sharp decline in short-term interest

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iShares GNMA Bond ETF (NASDAQ:GNMA – Get Rating) saw a significant drop in short-term interest rates in May. As of May 31, there was selling interest totaling 27,900 shares, down 88.0% from the May 15 total of 231,600 shares. Based on an average daily trading volume of 74,600 shares, the days-to-cover ratio is currently 0.4 days.

Major investors have recently been buying and selling shares of the company. Bigelow Investment Advisors LLC increased its holdings in iShares GNMA Bond ETF by 8.0% in the fourth quarter. Bigelow Investment Advisors LLC now owns 142,192 shares of the company worth $7,073,000 after purchasing an additional 10,530 shares during the period. Tortoise Investment Management LLC increased its stake in iShares GNMA Bond ETF shares by 73.1% in the fourth quarter. Tortoise Investment Management LLC now owns 5,090 shares of the company valued at $253,000 after purchasing an additional 2,150 shares in the last quarter. Capital Investment Advisory Services LLC bought a new stock position in iShares GNMA Bond ETF in the fourth quarter worth $40,000. Valley Forge Investment Consultants Inc. ADV bought a new stock position in iShares GNMA Bond ETF in the fourth quarter worth $211,000. Finally, Prosperity Planning Inc. increased its stake in iShares GNMA Bond ETF shares by 11.9% in the fourth quarter. Prosperity Planning Inc. now owns 111,831 shares of the company valued at $5,562,000 after purchasing an additional 11,886 shares last quarter.

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GNMA shares were down $0.53 during Friday trading hours, hitting $45.36. 94,711 shares were traded, against an average volume of 70,356. iShares GNMA Bond ETF has a fifty-two week low of $44.91 and a fifty-two week high of $50.38. The company has a 50-day moving average of $46.28 and a 200-day moving average of $47.98.

The company also recently declared a monthly dividend, which was paid on Tuesday, June 7. Shareholders of record on Thursday, June 2 received a dividend of $0.066. This represents a dividend of $0.79 on an annualized basis and a yield of 1.75%. The ex-dividend date was Wednesday, June 1.

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