iShares iBoxx $ High Yield Corporate Bond ETF (NYSEARCA:HYG) Sees Large Decline in Short Interest

iShares iBoxx $ High Yield Corporate Bond ETF (NYSEARCA:HYG) saw a significant decline in short interest in April. As of April 15th, there was short interest totaling 94,963,938 shares, a decline of 20.9% from the March 31st total of 120,060,194 shares. Based on an average daily volume of 47,318,362 shares, the days-to-cover ratio is currently 2.0 days. Currently, 43.5% of the company’s stock are sold short.

iShares iBoxx $ High Yield Corporate Bond ETF Trading Up 0.3%

iShares iBoxx $ High Yield Corporate Bond ETF stock traded up $0.25 during mid-day trading on Thursday, hitting $80.38. The company had a trading volume of 51,564,970 shares, compared to its average volume of 49,799,742. The stock’s 50 day moving average price is $80.00 and its two-hundred day moving average price is $80.47. iShares iBoxx $ High Yield Corporate Bond ETF has a 12 month low of $78.22 and a 12 month high of $81.36. The company has a market capitalization of $17.06 billion, a PE ratio of 10.79 and a beta of 0.42.

Institutional Trading of iShares iBoxx $ High Yield Corporate Bond ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of HYG. Elyxium Wealth LLC bought a new position in shares of iShares iBoxx $ High Yield Corporate Bond ETF in the fourth quarter worth about $32,000. Triumph Capital Management bought a new stake in shares of iShares iBoxx $ High Yield Corporate Bond ETF in the 3rd quarter valued at approximately $38,000. High Point Wealth Management LLC bought a new stake in shares of iShares iBoxx $ High Yield Corporate Bond ETF in the 4th quarter valued at approximately $38,000. Root Financial Partners LLC bought a new stake in shares of iShares iBoxx $ High Yield Corporate Bond ETF in the 3rd quarter valued at approximately $40,000. Finally, Cornerstone Planning Group LLC purchased a new stake in shares of iShares iBoxx $ High Yield Corporate Bond ETF in the third quarter worth approximately $59,000.

About iShares iBoxx $ High Yield Corporate Bond ETF

iShares iBoxx $ High Yield Corporate Bond ETF (the Fund), formerly iShares iBoxx $ High Yield Corporate Bond Fund, is an exchange-traded fund (ETF). The Fund seeks to track the investment results of the Markit iBoxx USD Liquid High Yield Index (the Index), which is a rules-based index consisting of liquid the United States dollar-denominated, high yield corporate bonds for sale in the United States, as determined by the index provider. The Index may include large-, mid- or small-capitalization companies, and components primarily include consumer services, financial, industrials, and oil and gas companies.