BondBloxx CCC Rated USD High Yield Corporate Bond ETF (NYSEARCA:XCCC) Sees Large Growth in Short Interest

BondBloxx CCC Rated USD High Yield Corporate Bond ETF (NYSEARCA:XCCC) was the target of a large increase in short interest in May. As of May 29th, there was short interest totaling 372,810 shares, an increase of 85.4% from the May 14th total of 201,107 shares. Based on an average daily volume of 707,326 shares, the days-to-cover ratio is presently 0.5 days. Currently, 4.6% of the company’s stock are short sold.

BondBloxx CCC Rated USD High Yield Corporate Bond ETF Stock Performance

XCCC stock traded up $0.09 during mid-day trading on Monday, hitting $36.83. 5,372 shares of the company were exchanged, compared to its average volume of 310,903. BondBloxx CCC Rated USD High Yield Corporate Bond ETF has a 1-year low of $35.86 and a 1-year high of $39.35. The firm’s 50 day simple moving average is $36.75 and its 200 day simple moving average is $37.33. The firm has a market cap of $301.27 million, a P/E ratio of 4.02 and a beta of 0.48.

Institutional Investors Weigh In On BondBloxx CCC Rated USD High Yield Corporate Bond ETF

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sound Income Strategies LLC raised its position in BondBloxx CCC Rated USD High Yield Corporate Bond ETF by 49.8% in the 4th quarter. Sound Income Strategies LLC now owns 152,202 shares of the company’s stock valued at $5,813,000 after buying an additional 50,621 shares during the last quarter. Brookstone Capital Management acquired a new position in BondBloxx CCC Rated USD High Yield Corporate Bond ETF during the 4th quarter worth approximately $5,119,000. State of New Jersey Common Pension Fund D bought a new position in shares of BondBloxx CCC Rated USD High Yield Corporate Bond ETF during the 4th quarter worth approximately $5,704,000. Simplicity Wealth LLC grew its stake in shares of BondBloxx CCC Rated USD High Yield Corporate Bond ETF by 23.1% during the 4th quarter. Simplicity Wealth LLC now owns 77,296 shares of the company’s stock worth $2,939,000 after acquiring an additional 14,501 shares in the last quarter. Finally, Potomac Fund Management Inc. ADV raised its holdings in shares of BondBloxx CCC Rated USD High Yield Corporate Bond ETF by 13.7% in the fourth quarter. Potomac Fund Management Inc. ADV now owns 1,264,638 shares of the company’s stock valued at $48,088,000 after purchasing an additional 152,613 shares during the last quarter.

About BondBloxx CCC Rated USD High Yield Corporate Bond ETF

The BondBloxx CCC Rated USD High Yield Corporate Bond ETF (XCCC) 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 CCC (or its equivalent), based on an average of three main credit rating providers. XCCC was launched on May 24, 2022 and is managed by BondBloxx.