BNY Mellon High Yield ETF (NYSEARCA:BKHY) Sees Large Decline in Short Interest

BNY Mellon High Yield ETF (NYSEARCA:BKHY) was the recipient of a significant drop in short interest in the month of May. As of May 29th, there was short interest totaling 17,918 shares, a drop of 48.9% from the May 14th total of 35,095 shares. Based on an average daily trading volume, of 17,556 shares, the short-interest ratio is currently 1.0 days. Approximately 0.6% of the shares of the company are sold short.

BNY Mellon High Yield ETF Stock Up 0.1%

Shares of NYSEARCA BKHY opened at $47.54 on Friday. BNY Mellon High Yield ETF has a 1-year low of $46.84 and a 1-year high of $48.89. The business’s fifty day moving average price is $47.55 and its two-hundred day moving average price is $47.88.

Institutional Investors Weigh In On BNY Mellon High Yield ETF

Several large investors have recently added to or reduced their stakes in BKHY. Beacon Capital Management Inc. increased its position in BNY Mellon High Yield ETF by 308.5% in the fourth quarter. Beacon Capital Management Inc. now owns 719 shares of the company’s stock worth $35,000 after buying an additional 543 shares during the period. Kestra Advisory Services LLC acquired a new stake in BNY Mellon High Yield ETF in the fourth quarter worth $39,000. Aptus Capital Advisors LLC acquired a new stake in BNY Mellon High Yield ETF in the third quarter worth $41,000. Fifth Third Securities Inc. acquired a new stake in BNY Mellon High Yield ETF in the fourth quarter worth $225,000. Finally, Captrust Financial Advisors acquired a new stake in BNY Mellon High Yield ETF in the second quarter worth $251,000.

About BNY Mellon High Yield ETF

The BNY Mellon High Yield Beta ETF (BKHY) is an exchange-traded fund that mostly invests in high yield fixed income. The fund tracks a market value-weighted index of USD-denominated high yield corporate bonds with broad maturities. BKHY was launched on Apr 24, 2020 and is managed by BNY Mellon.