Schwab High Yield Bond ETF (NYSEARCA:SCYB) Sees Significant Growth in Short Interest

Schwab High Yield Bond ETF (NYSEARCA:SCYB) was the recipient of a significant growth in short interest in the month of May. As of May 29th, there was short interest totaling 573,720 shares, a growth of 285.7% from the May 14th total of 148,732 shares. Based on an average daily trading volume, of 1,049,464 shares, the short-interest ratio is presently 0.5 days. Approximately 0.6% of the company’s shares are short sold.

Schwab High Yield Bond ETF Price Performance

NYSEARCA SCYB traded up $0.13 during mid-day trading on Thursday, hitting $26.15. The company’s stock had a trading volume of 2,002,560 shares, compared to its average volume of 1,223,870. Schwab High Yield Bond ETF has a 52-week low of $25.70 and a 52-week high of $26.78. The stock’s fifty day simple moving average is $26.18 and its two-hundred day simple moving average is $26.32. The firm has a market capitalization of $2.43 billion, a P/E ratio of 60.28 and a beta of 0.27.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. raised its holdings in Schwab High Yield Bond ETF by 344.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,014 shares of the company’s stock valued at $27,000 after buying an additional 786 shares during the period. AlphaCore Capital LLC purchased a new position in Schwab High Yield Bond ETF in the third quarter valued at approximately $29,000. Kestra Advisory Services LLC purchased a new position in Schwab High Yield Bond ETF in the fourth quarter valued at approximately $33,000. Arax Advisory Partners purchased a new position in Schwab High Yield Bond ETF in the fourth quarter valued at approximately $39,000. Finally, Howe & Rusling Inc. raised its holdings in Schwab High Yield Bond ETF by 367.1% in the fourth quarter. Howe & Rusling Inc. now owns 2,074 shares of the company’s stock valued at $55,000 after buying an additional 1,630 shares during the period.

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.