iShares BB Rated Corporate Bond ETF (NYSEARCA:HYBB – Get Free Report) was the target of a large growth in short interest in July. As of July 31st, there was short interest totaling 243,242 shares, a growth of 1,540.1% from the July 15th total of 14,831 shares. Based on an average daily volume of 65,615 shares, the days-to-cover ratio is currently 3.7 days. Approximately 2.6% of the shares of the company are sold short.
Institutional Investors Weigh In On iShares BB Rated Corporate Bond ETF
A number of large investors have recently added to or reduced their stakes in the stock. Fiduciary Financial Group LLC increased its stake in iShares BB Rated Corporate Bond ETF by 7.0% during the 2nd quarter. Fiduciary Financial Group LLC now owns 11,124 shares of the company’s stock worth $520,000 after acquiring an additional 724 shares during the period. Bank of America Corp DE raised its holdings in iShares BB Rated Corporate Bond ETF by 77.0% in the 1st quarter. Bank of America Corp DE now owns 34,887 shares of the company’s stock valued at $1,622,000 after acquiring an additional 15,174 shares in the last quarter. IFS Group LLC bought a new stake in shares of iShares BB Rated Corporate Bond ETF during the 1st quarter valued at $207,000. Royal Bank of Canada lifted its position in shares of iShares BB Rated Corporate Bond ETF by 661.3% during the 1st quarter. Royal Bank of Canada now owns 1,454 shares of the company’s stock valued at $68,000 after acquiring an additional 1,263 shares during the period. Finally, Valmark Advisers Inc. grew its holdings in shares of iShares BB Rated Corporate Bond ETF by 5.2% during the 1st quarter. Valmark Advisers Inc. now owns 1,531,588 shares of the company’s stock worth $71,204,000 after purchasing an additional 75,445 shares in the last quarter.
iShares BB Rated Corporate Bond ETF Stock Up 0.2%
NYSEARCA HYBB opened at $46.52 on Thursday. The firm has a 50-day moving average price of $46.56 and a two-hundred day moving average price of $46.74. iShares BB Rated Corporate Bond ETF has a 12-month low of $45.92 and a 12-month high of $47.51. The company has a market capitalization of $427.98 million, a P/E ratio of 59.99 and a beta of 0.37.
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.
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