Sale of SHY Shares: McElhenny Sheffield Capital Management, LLC sold its entire position of 176,949 shares in the iShares 1-3 Year Treasury Bond ETF (SHY) for approximately $14.66 million, reducing its exposure to 0% from a previous 3.9% of assets under management.
Nature of SHY: The iShares 1-3 Year Treasury Bond ETF is designed to provide stability and low interest rate risk by investing primarily in U.S. Treasury securities with maturities between one and three years, making it a suitable option for investors seeking a safe-haven asset.
Implications for Investors: While the institutional sale may not indicate a negative sentiment towards SHY, it highlights the ETF's role as a stable investment for retail investors looking to diversify their portfolios or park cash temporarily.
Performance and Yield: SHY has generated a total return of 4.82% over the past year and offers a dividend yield of 3.87%, backed by U.S. Treasury securities, making it a more stable option compared to similar yielding value stocks.
Wall Street analysts forecast SHY stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SHY is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Analyst Rating
Wall Street analysts forecast SHY stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SHY is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Buy
0 Hold
0 Sell
Current: 82.810
Low
Averages
High
Current: 82.810
Low
Averages
High
No data
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
