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) was the target of a significant drop in short interest during the month of March. As of March 13th, there was short interest totaling 71,289 shares, a drop of 90.1% from the February 26th total of 721,138 shares. Based on an average daily volume of 182,795 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.7% of the company’s shares are short sold. Approximately 0.7% of the company’s shares are short sold. Based on an average daily volume of 182,795 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Nemes Rush Group LLC acquired a new stake in shares of BondBloxx BB Rated USD High Yield Corporate Bond ETF in the third quarter worth approximately $29,000. Kestra Advisory Services LLC acquired a new position in BondBloxx BB Rated USD High Yield Corporate Bond ETF during the fourth quarter worth approximately $181,000. GK Wealth Management LLC acquired a new position in BondBloxx BB Rated USD High Yield Corporate Bond ETF during the fourth quarter worth approximately $243,000. Envestnet Asset Management Inc. purchased a new position in BondBloxx BB Rated USD High Yield Corporate Bond ETF during the third quarter worth approximately $389,000. Finally, MML Investors Services LLC raised its stake in BondBloxx BB Rated USD High Yield Corporate Bond ETF by 6.6% during the fourth 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 period.

BondBloxx BB Rated USD High Yield Corporate Bond ETF Stock Up 0.3%

Shares of NYSEARCA:XBB traded up $0.12 during midday trading on Wednesday, reaching $40.58. The company’s stock had a trading volume of 2,959 shares, compared to its average volume of 143,535. The firm has a market cap of $399.71 million, a price-to-earnings ratio of 59.99 and a beta of 0.44. The business has a 50 day moving average price of $41.15 and a 200 day moving average price of $41.18. 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 firm also recently declared a monthly dividend, which was paid on Thursday, March 5th. Shareholders of record on Monday, March 2nd were paid a $0.1621 dividend. This represents a c) dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend was Monday, March 2nd.

BondBloxx BB Rated USD High Yield Corporate Bond ETF Company Profile

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.