BNY Mellon High Yield ETF (NYSEARCA:BKHY) Shares Climb 0.3% – Here’s Why

BNY Mellon High Yield ETF (NYSEARCA:BKHY)’s share price traded up 0.3% on Monday. The stock traded as high as $45.87 and last traded at $45.83. Approximately 57,395 shares traded hands during mid-day trading, an increase of 19% from the average daily volume of 48,106 shares. The stock had previously closed at $45.70.

BNY Mellon High Yield ETF Stock Up 0.2%

The stock has a 50 day simple moving average of $46.08 and a 200-day simple moving average of $47.20.

BNY Mellon High Yield ETF Cuts Dividend

The firm also recently disclosed a monthly dividend, which was paid on Thursday, November 5th. Stockholders of record on Monday, November 2nd were given a $0.2680 dividend. The ex-dividend date was Monday, November 2nd. This is a negative change from BNY Mellon High Yield ETF’s previous monthly dividend of $0.2825. This represents a $3.22 annualized dividend and a dividend yield of 7.0%.

Hedge Funds Weigh In On BNY Mellon High Yield ETF

Hedge funds have recently made changes to their positions in the business. Royal Bank of Canada raised its stake in BNY Mellon High Yield ETF by 4.4% during the 1st quarter. Royal Bank of Canada now owns 9,434 shares of the company’s stock valued at $447,000 after purchasing an additional 394 shares during the period. Janney Montgomery Scott LLC lifted its holdings in BNY Mellon High Yield ETF by 9.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 16,460 shares of the company’s stock worth $780,000 after purchasing an additional 1,360 shares in the last quarter. Rodgers & Associates LTD boosted its stake in BNY Mellon High Yield ETF by 4.7% in the 2nd quarter. Rodgers & Associates LTD now owns 32,124 shares of the company’s stock worth $932,000 after purchasing an additional 1,439 shares during the period. Symphony Financial Ltd. Co. boosted its stake in BNY Mellon High Yield ETF by 7.9% in the 2nd quarter. Symphony Financial Ltd. Co. now owns 20,841 shares of the company’s stock worth $992,000 after purchasing an additional 1,533 shares during the period. Finally, Integrated Wealth Concepts LLC boosted its stake in BNY Mellon High Yield ETF by 3.2% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 66,128 shares of the company’s stock worth $3,148,000 after purchasing an additional 2,063 shares during the period.

BNY Mellon High Yield ETF Company Profile

The BNY Mellon High Yield Beta ETF (BKHY) is an exchange-traded fund that mostly invests in high yield fixed income. The fund tracks a market value-weighted index of USD-denominated high yield corporate bonds with broad maturities. BKHY was launched on Apr 24, 2020 and is managed by BNY Mellon.