iShares BB Rated Corporate Bond ETF (NYSEARCA:HYBB) Sees Large Decrease in Short Interest

iShares BB Rated Corporate Bond ETF (NYSEARCA:HYBB) was the recipient of a large drop in short interest during the month of July. As of July 15th, there was short interest totaling 14,831 shares, a drop of 89.1% from the June 30th total of 136,217 shares. Based on an average daily volume of 13,448 shares, the short-interest ratio is currently 1.1 days. Currently, 0.2% of the shares of the stock are sold short.

iShares BB Rated Corporate Bond ETF Stock Down 0.0%

NYSEARCA:HYBB traded down $0.01 on Friday, reaching $46.32. The stock had a trading volume of 8,724 shares, compared to its average volume of 80,281. The company has a market capitalization of $409.93 million, a P/E ratio of 59.99 and a beta of 0.37. iShares BB Rated Corporate Bond ETF has a 1-year low of $45.92 and a 1-year high of $47.51. The stock has a fifty day moving average price of $46.61 and a 200-day moving average price of $46.82.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. CWM LLC increased its holdings in iShares BB Rated Corporate Bond ETF by 45.3% during the 4th quarter. CWM LLC now owns 892 shares of the company’s stock valued at $42,000 after purchasing an additional 278 shares in the last quarter. IFP Advisors Inc boosted its stake in iShares BB Rated Corporate Bond ETF by 29.8% in the third quarter. IFP Advisors Inc now owns 1,298 shares of the company’s stock worth $61,000 after purchasing an additional 298 shares in the last quarter. Zuckerman Investment Group LLC boosted its stake in iShares BB Rated Corporate Bond ETF by 1.8% in the fourth quarter. Zuckerman Investment Group LLC now owns 17,153 shares of the company’s stock worth $808,000 after purchasing an additional 298 shares in the last quarter. Bank of America Corp DE boosted its stake in iShares BB Rated Corporate Bond ETF by 12.2% in the second quarter. Bank of America Corp DE now owns 3,392 shares of the company’s stock worth $159,000 after purchasing an additional 369 shares in the last quarter. Finally, Raymond James Financial Inc. grew its holdings in shares of iShares BB Rated Corporate Bond ETF by 3.9% during the third quarter. Raymond James Financial Inc. now owns 11,406 shares of the company’s stock worth $540,000 after purchasing an additional 429 shares during the last quarter.

About iShares BB Rated Corporate Bond ETF

The iShares BB Rated Corporate Bond ETF (HYBB) is an exchange-traded fund that mostly invests in high yield fixed income. The fund tracks a market value-weighted index that only includes bonds with a credit rating of BB. HYBB was launched on Oct 6, 2020 and is managed by BlackRock.