BondBloxx BB Rated USD High Yield Corporate Bond ETF (NYSEARCA:XBB) Sees Significant Decline in Short Interest

BondBloxx BB Rated USD High Yield Corporate Bond ETF (NYSEARCA:XBB) saw a significant decline in short interest in the month of February. As of February 13th, there was short interest totaling 29,541 shares, a decline of 88.8% from the January 29th total of 264,570 shares. Based on an average daily trading volume, of 140,890 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.3% of the company’s shares are sold short. Currently, 0.3% of the company’s shares are sold short. Based on an average daily trading volume, of 140,890 shares, the days-to-cover ratio is currently 0.2 days.

Hedge Funds Weigh In On BondBloxx BB Rated USD High Yield Corporate Bond ETF

A number of institutional investors have recently added to or reduced their stakes in XBB. Potomac Fund Management Inc. ADV boosted its stake in shares of BondBloxx BB Rated USD High Yield Corporate Bond ETF by 16.9% during the 4th quarter. Potomac Fund Management Inc. ADV now owns 1,174,307 shares of the company’s stock valued at $48,316,000 after buying an additional 169,347 shares during the last quarter. MML Investors Services LLC increased its position in shares of BondBloxx BB Rated USD High Yield Corporate Bond ETF by 6.6% in the 4th quarter. MML Investors Services LLC now owns 10,029 shares of the company’s stock worth $413,000 after purchasing an additional 623 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of BondBloxx BB Rated USD High Yield Corporate Bond ETF in the 4th quarter valued at about $181,000. Municipal Employees Retirement System of Michigan raised its stake in shares of BondBloxx BB Rated USD High Yield Corporate Bond ETF by 18.4% in the 4th quarter. Municipal Employees Retirement System of Michigan now owns 7,372,511 shares of the company’s stock valued at $303,338,000 after purchasing an additional 1,144,871 shares in the last quarter. Finally, MGO One Seven LLC lifted its position in shares of BondBloxx BB Rated USD High Yield Corporate Bond ETF by 3.5% during the fourth quarter. MGO One Seven LLC now owns 214,153 shares of the company’s stock worth $8,811,000 after purchasing an additional 7,155 shares during the last quarter.

BondBloxx BB Rated USD High Yield Corporate Bond ETF Trading Down 0.4%

Shares of XBB traded down $0.16 during midday trading on Friday, reaching $41.39. 20,078 shares of the company were exchanged, compared to its average volume of 153,289. The stock has a 50-day moving average price of $41.32 and a 200-day moving average price of $41.22. The company has a market cap of $407.69 million, a price-to-earnings ratio of 59.99 and a beta of 0.44. BondBloxx BB Rated USD High Yield Corporate Bond ETF has a 1-year low of $38.23 and a 1-year high of $41.61.

BondBloxx BB Rated USD High Yield Corporate Bond ETF Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Thursday, February 5th. Stockholders of record on Monday, February 2nd were given a dividend of $0.1899 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend was Monday, February 2nd.

About BondBloxx BB Rated USD High Yield Corporate Bond ETF

The BondBloxx BB Rated USD High Yield Corporate Bond ETF (XBB) is an exchange-traded fund that mostly invests in high yield fixed income. The fund tracks a market value-weighted index that specifically invests in USD-denominated corporate bonds with a credit rating of BB (or its equivalent), based on an average of three main credit rating providers. XBB was launched on May 24, 2022 and is managed by BondBloxx.