Schwab High Yield Bond ETF (NYSEARCA:SCYB) Short Interest Update

Schwab High Yield Bond ETF (NYSEARCA:SCYB) was the recipient of a large decline in short interest in the month of March. As of March 13th, there was short interest totaling 227,300 shares, a decline of 47.1% from the February 26th total of 429,927 shares. Approximately 0.3% of the shares of the company are short sold. Based on an average daily trading volume, of 1,424,166 shares, the days-to-cover ratio is currently 0.2 days.

Schwab High Yield Bond ETF Stock Performance

NYSEARCA:SCYB opened at $25.75 on Friday. The company has a 50-day moving average of $26.34 and a 200-day moving average of $26.45. Schwab High Yield Bond ETF has a 52 week low of $24.73 and a 52 week high of $26.78. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of 60.28 and a beta of 0.32.

Schwab High Yield Bond ETF Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, March 6th. Shareholders of record on Monday, March 2nd were paid a dividend of $0.1449 per share. The ex-dividend date was Monday, March 2nd. This represents a c) dividend on an annualized basis and a yield of 6.8%.

Hedge Funds Weigh In On Schwab High Yield Bond ETF

Hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. lifted its position in shares of Schwab High Yield Bond ETF by 344.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,014 shares of the company’s stock worth $27,000 after buying an additional 786 shares during the period. AlphaCore Capital LLC acquired a new position in Schwab High Yield Bond ETF during the third quarter worth $29,000. Kestra Advisory Services LLC bought a new position in shares of Schwab High Yield Bond ETF during the fourth quarter valued at $33,000. Arax Advisory Partners acquired a new stake in shares of Schwab High Yield Bond ETF in the 4th quarter valued at $39,000. Finally, Howe & Rusling Inc. boosted its stake in shares of Schwab High Yield Bond ETF by 367.1% in the 4th quarter. Howe & Rusling Inc. now owns 2,074 shares of the company’s stock valued at $55,000 after purchasing an additional 1,630 shares in the last quarter.

About Schwab High Yield Bond ETF

The Schwab High Yield Bond ETF (SCYB) is an exchange-traded fund that mostly invests in high yield fixed income. The fund tracks an index of USD-denominated high-yield, US corporate bonds, selected and weighted based on market value. SCYB was launched on Jul 11, 2023 and is managed by Charles Schwab.