ISHARES TR

Ticker: HYG CUSIP: 464288513 Class: IBOXX HI YD ETF

Arrow Financial Corp's Holding History (CIK: 0000717538)

Note: Option positions (PUT/CALL) are excluded.

Q4 2015
Shares 77 Value ($000) $6 Avg Close — Range —
Q3 2014
Shares 300 Value ($000) $28 Avg Close — Range —