iShares 0-5 Year High Yield Corporate Bond ETF (NYSEARCA:SHYG) Sees Large Increase in Short Interest

iShares 0-5 Year High Yield Corporate Bond ETF (NYSEARCA:SHYG) was the target of a significant increase in short interest in the month of May. As of May 15th, there was short interest totaling 1,101,484 shares, an increase of 63.1% from the April 30th total of 675,389 shares. Based on an average daily volume of 1,356,277 shares, the days-to-cover ratio is presently 0.8 days. Approximately 0.6% of the shares of the stock are short sold.

iShares 0-5 Year High Yield Corporate Bond ETF Stock Up 0.1%

Shares of NYSEARCA SHYG opened at $42.30 on Friday. The company’s 50-day simple moving average is $42.42 and its 200-day simple moving average is $42.66. iShares 0-5 Year High Yield Corporate Bond ETF has a 52-week low of $41.83 and a 52-week high of $43.39. The firm has a market cap of $7.52 billion, a price-to-earnings ratio of 10.74 and a beta of 0.28.

Hedge Funds Weigh In On iShares 0-5 Year High Yield Corporate Bond ETF

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp raised its stake in iShares 0-5 Year High Yield Corporate Bond ETF by 31.0% during the first quarter. Bank of New York Mellon Corp now owns 1,149,340 shares of the company’s stock worth $48,629,000 after purchasing an additional 272,163 shares during the period. Sound Income Strategies LLC raised its stake in shares of iShares 0-5 Year High Yield Corporate Bond ETF by 3.5% in the 4th quarter. Sound Income Strategies LLC now owns 1,035,730 shares of the company’s stock valued at $44,588,000 after acquiring an additional 34,667 shares during the period. Financial Gravity Asset Management Inc. grew its holdings in shares of iShares 0-5 Year High Yield Corporate Bond ETF by 7.4% in the fourth quarter. Financial Gravity Asset Management Inc. now owns 526,684 shares of the company’s stock valued at $22,579,000 after purchasing an additional 36,272 shares in the last quarter. Loomis Sayles & Co. L P grew its holdings in shares of iShares 0-5 Year High Yield Corporate Bond ETF by 22.1% in the fourth quarter. Loomis Sayles & Co. L P now owns 466,000 shares of the company’s stock valued at $19,977,000 after purchasing an additional 84,500 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of iShares 0-5 Year High Yield Corporate Bond ETF by 8.7% in the third quarter. Ameriprise Financial Inc. now owns 432,109 shares of the company’s stock valued at $18,710,000 after purchasing an additional 34,416 shares in the last quarter.

iShares 0-5 Year High Yield Corporate Bond ETF Company Profile

The iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) is an exchange-traded fund that mostly invests in high yield fixed income. The fund tracks a market-value-weighted index of high-yield USD-denominated bonds with 0-5 years remaining in maturity. SHYG was launched on Oct 15, 2013 and is managed by BlackRock.