iShares 0-5 Year High Yield Corporate Bond ETF (NYSEARCA:SHYG) Sets New 1-Year Low – Here’s Why

iShares 0-5 Year High Yield Corporate Bond ETF (NYSEARCA:SHYG)’s stock price reached a new 52-week low during mid-day trading on Tuesday. The company traded as low as $41.31 and last traded at $41.35, with a volume of 1548934 shares changing hands. The stock had previously closed at $41.49.

iShares 0-5 Year High Yield Corporate Bond ETF Stock Down 0.1%

The firm has a fifty day moving average of $41.99 and a 200-day moving average of $42.22. The firm has a market cap of $7.66 billion, a P/E ratio of 10.74 and a beta of 0.28.

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

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its holdings in shares of 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 buying an additional 272,163 shares during the period. Atomic Invest LLC grew its stake in iShares 0-5 Year High Yield Corporate Bond ETF by 416.9% in the 2nd quarter. Atomic Invest LLC now owns 106,138 shares of the company’s stock valued at $4,504,000 after buying an additional 85,604 shares during the last quarter. Financial Gravity Asset Management Inc. raised its holdings in iShares 0-5 Year High Yield Corporate Bond ETF by 7.4% in the 4th quarter. Financial Gravity Asset Management Inc. now owns 526,684 shares of the company’s stock valued at $22,579,000 after acquiring an additional 36,272 shares during the period. SG Americas Securities LLC acquired a new stake in iShares 0-5 Year High Yield Corporate Bond ETF during the first quarter worth approximately $1,254,000. Finally, RMG Wealth Management LLC acquired a new stake in iShares 0-5 Year High Yield Corporate Bond ETF during the first quarter worth approximately $1,220,000.

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.