Schwab High Yield Bond ETF (NYSEARCA:SCYB) Sets New 52-Week Low – What’s Next?

Schwab High Yield Bond ETF (NYSEARCA:SCYB)’s share price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $25.60 and last traded at $25.6150, with a volume of 292970 shares traded. The stock had previously closed at $25.73.

Schwab High Yield Bond ETF Trading Down 0.7%

The stock’s 50 day moving average price is $25.94 and its 200 day moving average price is $26.06. The firm has a market cap of $2.71 billion, a PE ratio of 60.28 and a beta of 0.27.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SCYB. Integrated Wealth Concepts LLC purchased a new stake in shares of Schwab High Yield Bond ETF during the second quarter valued at approximately $103,000. Compass Financial Management LLC acquired a new position in shares of Schwab High Yield Bond ETF during the second quarter worth $150,000. Balboa Wealth Partners purchased a new position in shares of Schwab High Yield Bond ETF in the first quarter valued at $212,000. Axis Wealth Partners LLC boosted its stake in shares of Schwab High Yield Bond ETF by 13.1% in the first quarter. Axis Wealth Partners LLC now owns 8,669 shares of the company’s stock valued at $225,000 after purchasing an additional 1,007 shares during the period. Finally, IFP Advisors Inc grew its holdings in Schwab High Yield Bond ETF by 113.5% during the 4th quarter. IFP Advisors Inc now owns 11,048 shares of the company’s stock valued at $292,000 after purchasing an additional 5,873 shares in the last quarter.

About Schwab High Yield Bond ETF

The Schwab High Yield Bond ETF (SCYB) is an exchange-traded fund that mostly invests in high yield fixed income. The fund tracks an index of USD-denominated high-yield, US corporate bonds, selected and weighted based on market value. SCYB was launched on Jul 11, 2023 and is managed by Charles Schwab.