FlexShares Credit-Scored US Corporate Bond Index Fund (NASDAQ:SKOR) Short Interest Update

Key Points

• Short interest plunged 41.3% in April to 15,485 shares as of April 15, leaving a days-to-cover ratio of 0.2 and roughly 0.1% of shares sold short.
• Monthly dividend increased to $0.1959 (paid Apr 7; ex-dividend Apr 1), up from $0.18, implying an annualized yield of about 4.8%.
• SKOR trades around $48.83 with a one-year range of $47.83–$49.53, and several institutional investors (e.g., Horizon Bancorp, Vantage Financial, Harbour Trust) recently grew or initiated positions.

FlexShares Credit-Scored US Corporate Bond Index Fund (NASDAQ:SKOR - ) was the target of a large drop in short interest during the month of April. As of April 15th, there was short interest totaling 15,485 shares, a drop of 41.3% from the March 31st total of 26,360 shares. Based on an average daily trading volume, of 85,568 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.1% of the shares of the company are sold short.

FlexShares Credit-Scored US Corporate Bond Index Fund Stock Performance

NASDAQ:SKOR opened at $48.83 on Monday. FlexShares Credit-Scored US Corporate Bond Index Fund has a 1 year low of $47.83 and a 1 year high of $49.53. The firm's fifty day simple moving average is $48.85 and its 200 day simple moving average is $49.07.

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 paid a $0.1959 dividend. This represents a c) dividend on an annualized basis and a yield of 4.8%. The ex-dividend date was Wednesday, April 1st. This is a boost from FlexShares Credit-Scored US Corporate Bond Index Fund's previous monthly dividend of $0.18.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SKOR. Horizon Bancorp Inc. IN grew its stake in FlexShares Credit-Scored US Corporate Bond Index Fund by 7.3% in the 3rd quarter. Horizon Bancorp Inc. IN now owns 170,967 shares of the company's stock valued at $8,420,000 after buying an additional 11,670 shares during the last quarter. Vantage Financial Partners LLC grew its stake in FlexShares Credit-Scored US Corporate Bond Index Fund by 17.9% in the 3rd quarter. Vantage Financial Partners LLC now owns 62,971 shares of the company's stock valued at $3,101,000 after buying an additional 9,562 shares during the last quarter. Fiduciary Alliance LLC acquired a new position in FlexShares Credit-Scored US Corporate Bond Index Fund in the 1st quarter valued at $442,000. Harbour Trust & Investment Management Co grew its stake in FlexShares Credit-Scored US Corporate Bond Index Fund by 0.9% in the 3rd quarter. Harbour Trust & Investment Management Co now owns 310,554 shares of the company's stock valued at $15,295,000 after buying an additional 2,635 shares during the last quarter. Finally, Birchwood Financial Partners Inc. acquired a new position in FlexShares Credit-Scored US Corporate Bond Index Fund in the 4th quarter valued at $88,000.

FlexShares Credit-Scored US Corporate Bond Index Fund Company Profile

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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