iShares 0-5 Year High Yield Corporate Bond ETF (NYSEARCA:SHYG) Sees Large Decline in Short Interest

iShares 0-5 Year High Yield Corporate Bond ETF (NYSEARCA:SHYG) saw a large drop in short interest during the month of May. As of May 29th, there was short interest totaling 500,965 shares, a drop of 54.5% from the May 14th total of 1,101,484 shares. Based on an average daily volume of 1,253,027 shares, the short-interest ratio is presently 0.4 days. Approximately 0.3% of the shares of the stock are sold short.

Institutional Investors Weigh In On iShares 0-5 Year High Yield Corporate Bond ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp grew its position in iShares 0-5 Year High Yield Corporate Bond ETF by 31.0% during the 1st quarter. Bank of New York Mellon Corp now owns 1,149,340 shares of the company’s stock worth $48,629,000 after acquiring an additional 272,163 shares during the last quarter. Sound Income Strategies LLC grew its position in iShares 0-5 Year High Yield Corporate Bond ETF by 3.5% during the 4th quarter. Sound Income Strategies LLC now owns 1,035,730 shares of the company’s stock worth $44,588,000 after acquiring an additional 34,667 shares during the last quarter. Financial Gravity Asset Management Inc. grew its position in iShares 0-5 Year High Yield Corporate Bond ETF by 7.4% during the 4th quarter. Financial Gravity Asset Management Inc. now owns 526,684 shares of the company’s stock worth $22,579,000 after acquiring an additional 36,272 shares during the last quarter. Loomis Sayles & Co. L P grew its position in iShares 0-5 Year High Yield Corporate Bond ETF by 22.1% during the 4th quarter. Loomis Sayles & Co. L P now owns 466,000 shares of the company’s stock worth $19,977,000 after acquiring an additional 84,500 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in iShares 0-5 Year High Yield Corporate Bond ETF by 8.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 432,109 shares of the company’s stock worth $18,710,000 after acquiring an additional 34,416 shares during the last quarter.

iShares 0-5 Year High Yield Corporate Bond ETF Stock Up 0.0%

Shares of SHYG traded up $0.02 during midday trading on Friday, hitting $42.36. The company’s stock had a trading volume of 899,591 shares, compared to its average volume of 1,652,978. iShares 0-5 Year High Yield Corporate Bond ETF has a one year low of $41.83 and a one year high of $43.39. The company’s fifty day simple moving average is $42.44 and its two-hundred day simple moving average is $42.64. The stock has a market capitalization of $7.53 billion, a price-to-earnings ratio of 10.74 and a beta of 0.28.

About iShares 0-5 Year High Yield Corporate Bond ETF

The iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) is an exchange-traded fund that mostly invests in high yield fixed income. The fund tracks a market-value-weighted index of high-yield USD-denominated bonds with 0-5 years remaining in maturity. SHYG was launched on Oct 15, 2013 and is managed by BlackRock.