iShares High Yield Corporate Bond BuyWrite Strategy ETF (BATS:HYGW) Sees Significant Increase in Short Interest

iShares High Yield Corporate Bond BuyWrite Strategy ETF (BATS:HYGW) saw a large growth in short interest during the month of May. As of May 29th, there was short interest totaling 10,585 shares, a growth of 444.8% from the May 14th total of 1,943 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 26,339 shares, the days-to-cover ratio is currently 0.4 days.

iShares High Yield Corporate Bond BuyWrite Strategy ETF Stock Performance

Shares of HYGW stock opened at $28.88 on Thursday. The firm’s 50-day simple moving average is $29.11 and its two-hundred day simple moving average is $29.57. iShares High Yield Corporate Bond BuyWrite Strategy ETF has a 52 week low of $28.83 and a 52 week high of $30.68. The firm has a market cap of $216.60 million, a price-to-earnings ratio of 10.56 and a beta of 0.24.

Institutional Investors Weigh In On iShares High Yield Corporate Bond BuyWrite Strategy ETF

Large investors have recently added to or reduced their stakes in the company. RiverFront Investment Group LLC raised its stake in shares of iShares High Yield Corporate Bond BuyWrite Strategy ETF by 96.2% during the fourth quarter. RiverFront Investment Group LLC now owns 69,757 shares of the company’s stock valued at $2,083,000 after acquiring an additional 34,201 shares during the last quarter. Private Trust Co. NA lifted its stake in shares of iShares High Yield Corporate Bond BuyWrite Strategy ETF by 45.4% in the 4th quarter. Private Trust Co. NA now owns 2,104 shares of the company’s stock valued at $63,000 after purchasing an additional 657 shares during the period. JPMorgan Chase & Co. grew its stake in iShares High Yield Corporate Bond BuyWrite Strategy ETF by 47.0% in the second quarter. JPMorgan Chase & Co. now owns 194,549 shares of the company’s stock worth $5,955,000 after purchasing an additional 62,234 shares during the period. Arkadios Wealth Advisors purchased a new position in iShares High Yield Corporate Bond BuyWrite Strategy ETF during the fourth quarter valued at $500,000. Finally, Arax Advisory Partners bought a new stake in shares of iShares High Yield Corporate Bond BuyWrite Strategy ETF in the 4th quarter worth $337,000.

About iShares High Yield Corporate Bond BuyWrite Strategy ETF

The iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW) is an exchange-traded fund that is based on the Cboe HYG BuyWrite index. The fund uses a fund-of-fund approach to passively track an index that measures the performance of holding shares of the iShares High Yield Corporate Bond ETF and writing one-month call options against the shares. HYGW was launched on Aug 18, 2022 and is managed by BlackRock.