iShares BB Rated Corporate Bond ETF (NYSEARCA:HYBB) Short Interest Down 60.1% in August

iShares BB Rated Corporate Bond ETF (NYSEARCA:HYBB) saw a large decline in short interest in August. As of August 14th, there was short interest totaling 96,939 shares, a decline of 60.1% from the July 30th total of 243,242 shares. Approximately 1.1% of the shares of the stock are short sold. Based on an average trading volume of 292,300 shares, the days-to-cover ratio is presently 0.3 days.

iShares BB Rated Corporate Bond ETF Stock Down 0.2%

Shares of NYSEARCA HYBB traded down $0.08 during trading on Friday, hitting $46.58. The company had a trading volume of 10,409 shares, compared to its average volume of 91,370. The firm has a market capitalization of $428.54 million, a price-to-earnings ratio of 59.99 and a beta of 0.37. The stock has a fifty day simple moving average of $46.55 and a two-hundred day simple moving average of $46.69. iShares BB Rated Corporate Bond ETF has a fifty-two week low of $45.92 and a fifty-two week high of $47.51.

Hedge Funds Weigh In On iShares BB Rated Corporate Bond ETF

A number of hedge funds have recently made changes to their positions in HYBB. Public Employees Retirement System of Ohio acquired a new stake in shares of iShares BB Rated Corporate Bond ETF in the second quarter worth approximately $119,170,000. Valmark Advisers Inc. raised its stake in iShares BB Rated Corporate Bond ETF by 5.2% in the 1st quarter. Valmark Advisers Inc. now owns 1,531,588 shares of the company’s stock valued at $71,204,000 after purchasing an additional 75,445 shares during the last quarter. Stifel Financial Corp lifted its holdings in iShares BB Rated Corporate Bond ETF by 44.5% in the 4th quarter. Stifel Financial Corp now owns 1,416,283 shares of the company’s stock valued at $66,749,000 after purchasing an additional 435,895 shares in the last quarter. Benjamin Edwards Inc. lifted its holdings in iShares BB Rated Corporate Bond ETF by 47.9% in the 4th quarter. Benjamin Edwards Inc. now owns 1,081,255 shares of the company’s stock valued at $50,959,000 after purchasing an additional 349,980 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its stake in iShares BB Rated Corporate Bond ETF by 4.1% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 372,034 shares of the company’s stock worth $17,534,000 after purchasing an additional 14,582 shares during the last quarter.

About iShares BB Rated Corporate Bond ETF

The iShares BB Rated Corporate Bond ETF (HYBB) is an exchange-traded fund that mostly invests in high yield fixed income. The fund tracks a market value-weighted index that only includes bonds with a credit rating of BB. HYBB was launched on Oct 6, 2020 and is managed by BlackRock.