FlexShares Credit-Scored US Corporate Bond Index Fund (NASDAQ:SKOR) Sees Significant Decrease in Short Interest

Key Points

• Short interest plunged 29.9% in March to 26,360 shares, leaving a very low short-interest ratio of 0.2 days and just 0.2% of shares sold short.
• The fund raised its monthly dividend to $0.1959 (from $0.18), paid April 7 with an ex-dividend date of April 1, implying an approximate annualized yield of 4.8%.
• SKOR is trading in a tight range around $48.75, with a 12‑month low/high of $47.48/$49.53 and 50‑ and 200‑day moving averages near $48.9–$49.1, suggesting limited price volatility.

FlexShares Credit-Scored US Corporate Bond Index Fund (NASDAQ:SKOR - ) was the recipient of a significant decline in short interest in March. As of March 31st, there was short interest totaling 26,360 shares, a decline of 29.9% from the March 15th total of 37,623 shares. Based on an average daily volume of 111,943 shares, the short-interest ratio is presently 0.2 days. Currently, 0.2% of the shares of the stock are sold short.

FlexShares Credit-Scored US Corporate Bond Index Fund Price Performance

Shares of NASDAQ:SKOR opened at $48.75 on Tuesday. FlexShares Credit-Scored US Corporate Bond Index Fund has a 12 month low of $47.48 and a 12 month high of $49.53. The stock's 50 day moving average price is $48.91 and its 200 day moving average price is $49.09.

FlexShares Credit-Scored US Corporate Bond Index Fund Increases Dividend

The company also recently announced a monthly dividend, which was paid on Tuesday, April 7th. Investors of record on Wednesday, April 1st were issued a dividend of $0.1959 per share. The ex-dividend date of this dividend was Wednesday, April 1st. This is a positive change from FlexShares Credit-Scored US Corporate Bond Index Fund's previous monthly dividend of $0.18. This represents a c) annualized dividend and a yield of 4.8%.

Institutional Investors Weigh In On FlexShares Credit-Scored US Corporate Bond Index Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SKOR. Horizon Bancorp Inc. IN raised its holdings in FlexShares Credit-Scored US Corporate Bond Index Fund by 7.3% during the third quarter. Horizon Bancorp Inc. IN now owns 170,967 shares of the company's stock worth $8,420,000 after purchasing an additional 11,670 shares in the last quarter. Vantage Financial Partners LLC raised its holdings in FlexShares Credit-Scored US Corporate Bond Index Fund by 17.9% during the third quarter. Vantage Financial Partners LLC now owns 62,971 shares of the company's stock worth $3,101,000 after purchasing an additional 9,562 shares in the last quarter. Harbour Trust & Investment Management Co raised its holdings in FlexShares Credit-Scored US Corporate Bond Index Fund by 0.9% during the third quarter. Harbour Trust & Investment Management Co now owns 310,554 shares of the company's stock worth $15,295,000 after purchasing an additional 2,635 shares in the last quarter. Birchwood Financial Partners Inc. acquired a new position in FlexShares Credit-Scored US Corporate Bond Index Fund in the fourth quarter worth approximately $88,000. Finally, Nations Financial Group Inc. IA ADV grew its position in FlexShares Credit-Scored US Corporate Bond Index Fund by 2.2% in the third quarter. Nations Financial Group Inc. IA ADV now owns 17,822 shares of the company's stock worth $878,000 after buying an additional 382 shares during the last quarter.

About FlexShares Credit-Scored US Corporate Bond Index Fund

The FlexShares Credit-Scored US Corporate Bond Index Fund (SKOR) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund tracks an index of intermediate-maturity, investment-grade corporate bonds that are selected and weighted by fundamental factors. SKOR was launched on Nov 12, 2014 and is managed by FlexShares.

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