BNY Mellon High Yield ETF (NYSEARCA:BKHY) Short Interest Down 57.4% in March

BNY Mellon High Yield ETF (NYSEARCA:BKHY) saw a large drop in short interest during the month of March. As of March 13th, there was short interest totaling 7,119 shares, a drop of 57.4% from the February 26th total of 16,696 shares. Based on an average daily trading volume, of 475,356 shares, the days-to-cover ratio is presently 0.0 days. Approximately 0.1% of the shares of the company are short sold.

BNY Mellon High Yield ETF Stock Down 0.1%

Shares of NYSEARCA:BKHY traded down $0.07 during midday trading on Friday, reaching $46.89. The company’s stock had a trading volume of 8,416 shares, compared to its average volume of 110,939. The stock has a fifty day moving average of $47.94 and a 200 day moving average of $48.21. BNY Mellon High Yield ETF has a twelve month low of $42.33 and a twelve month high of $48.89.

BNY Mellon High Yield ETF Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Thursday, March 5th. Shareholders of record on Monday, March 2nd were given a $0.2449 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a c) dividend on an annualized basis and a yield of 6.3%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. raised its holdings in shares of BNY Mellon High Yield ETF by 19.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 147,391 shares of the company’s stock valued at $7,178,000 after buying an additional 24,265 shares during the period. Heritage Oak Wealth Advisors LLC grew its position in BNY Mellon High Yield ETF by 51.6% in the 3rd quarter. Heritage Oak Wealth Advisors LLC now owns 91,149 shares of the company’s stock valued at $4,439,000 after acquiring an additional 31,017 shares in the last quarter. Assetmark Inc. grew its position in BNY Mellon High Yield ETF by 80.5% in the 3rd quarter. Assetmark Inc. now owns 387,420 shares of the company’s stock valued at $18,868,000 after acquiring an additional 172,771 shares in the last quarter. Beacon Capital Management Inc. increased its stake in BNY Mellon High Yield ETF by 308.5% during the fourth quarter. Beacon Capital Management Inc. now owns 719 shares of the company’s stock worth $35,000 after purchasing an additional 543 shares during the period. Finally, Kestra Advisory Services LLC acquired a new stake in shares of BNY Mellon High Yield ETF during the fourth quarter worth about $39,000.

About BNY Mellon High Yield ETF

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.