BNY Mellon High Yield ETF (NYSEARCA:BKHY) Sees Significant Growth in Short Interest

BNY Mellon High Yield ETF (NYSEARCA:BKHY) saw a large growth in short interest in February. As of February 27th, there was short interest totaling 16,696 shares, a growth of 237.3% from the February 12th total of 4,950 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average daily volume of 21,812 shares, the short-interest ratio is currently 0.8 days. Based on an average daily volume of 21,812 shares, the short-interest ratio is currently 0.8 days. Approximately 0.2% of the shares of the stock are sold short.

BNY Mellon High Yield ETF Stock Performance

Shares of BKHY traded down $0.01 during trading hours on Friday, reaching $47.20. The company had a trading volume of 9,340 shares, compared to its average volume of 116,569. BNY Mellon High Yield ETF has a 12-month low of $42.33 and a 12-month high of $48.89. The firm has a 50 day simple moving average of $48.16 and a 200-day simple moving average of $48.30.

BNY Mellon High Yield ETF Cuts Dividend

The business also recently declared a monthly dividend, which was paid on Thursday, March 5th. Stockholders of record on Monday, March 2nd were given a dividend of $0.2449 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date was Monday, March 2nd.

Institutional Investors Weigh In On BNY Mellon High Yield ETF

A number of institutional investors and hedge funds have recently modified their holdings of BKHY. Envestnet Asset Management Inc. raised its holdings in BNY Mellon High Yield ETF by 19.7% during the third quarter. Envestnet Asset Management Inc. now owns 147,391 shares of the company’s stock worth $7,178,000 after purchasing an additional 24,265 shares during the last quarter. Heritage Oak Wealth Advisors LLC increased its position in shares of BNY Mellon High Yield ETF by 51.6% in the third quarter. Heritage Oak Wealth Advisors LLC now owns 91,149 shares of the company’s stock valued at $4,439,000 after buying an additional 31,017 shares in the last quarter. Assetmark Inc. raised its stake in shares of BNY Mellon High Yield ETF by 80.5% during the 3rd quarter. Assetmark Inc. now owns 387,420 shares of the company’s stock worth $18,868,000 after buying an additional 172,771 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of BNY Mellon High Yield ETF by 27.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 548,255 shares of the company’s stock worth $26,472,000 after buying an additional 119,039 shares in the last quarter. Finally, Total Investment Management Inc. acquired a new stake in BNY Mellon High Yield ETF in the 2nd quarter valued at about $99,000.

BNY Mellon High Yield ETF Company Profile

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.