iShares BB Rated Corporate Bond ETF (NYSEARCA:HYBB) Sees Large Decrease in Short Interest
by Scott Moore · The Cerbat GemiShares BB Rated Corporate Bond ETF (NYSEARCA:HYBB – Get Free Report) was the recipient of a large decrease in short interest during the month of April. As of April 30th, there was short interest totaling 4,718 shares, a decrease of 98.8% from the April 15th total of 408,877 shares. Based on an average daily volume of 282,813 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.1% of the shares of the company are short sold.
iShares BB Rated Corporate Bond ETF Price Performance
HYBB stock opened at $46.58 on Wednesday. The company has a fifty day moving average price of $46.67 and a 200 day moving average price of $47.00. iShares BB Rated Corporate Bond ETF has a 12 month low of $45.91 and a 12 month high of $47.51. The company has a market cap of $421.55 million, a price-to-earnings ratio of 59.99 and a beta of 0.38.
Institutional Trading of iShares BB Rated Corporate Bond ETF
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio purchased a new stake in iShares BB Rated Corporate Bond ETF during the 4th quarter valued at approximately $101,049,000. Valmark Advisers Inc. raised its stake in iShares BB Rated Corporate Bond ETF by 5.2% during the 1st quarter. Valmark Advisers Inc. now owns 1,531,588 shares of the company’s stock valued at $71,204,000 after acquiring an additional 75,445 shares during the last quarter. Stifel Financial Corp raised its stake in iShares BB Rated Corporate Bond ETF by 44.5% during the 4th quarter. Stifel Financial Corp now owns 1,416,283 shares of the company’s stock valued at $66,749,000 after acquiring an additional 435,895 shares during the last quarter. Benjamin Edwards Inc. raised its stake in iShares BB Rated Corporate Bond ETF by 47.9% during the 4th quarter. Benjamin Edwards Inc. now owns 1,081,255 shares of the company’s stock valued at $50,959,000 after acquiring an additional 349,980 shares during the last quarter. Finally, Confluence Investment Management LLC raised its stake in iShares BB Rated Corporate Bond ETF by 60.1% during the 4th quarter. Confluence Investment Management LLC now owns 433,506 shares of the company’s stock valued at $20,431,000 after acquiring an additional 162,677 shares during the last quarter.
About iShares BB Rated Corporate Bond ETF
The iShares BB Rated Corporate Bond ETF (HYBB) is an exchange-traded fund that mostly invests in high yield fixed income. The fund tracks a market value-weighted index that only includes bonds with a credit rating of BB. HYBB was launched on Oct 6, 2020 and is managed by BlackRock.