iShares BB Rated Corporate Bond ETF (NYSEARCA:HYBB) Sees Strong Trading Volume – Should You Buy?

Shares of iShares BB Rated Corporate Bond ETF (NYSEARCA:HYBB) saw unusually-high trading volume on Wednesday . Approximately 252,681 shares were traded during mid-day trading, an increase of 183% from the previous session’s volume of 89,233 shares.The stock last traded at $47.3820 and had previously closed at $47.35.

iShares BB Rated Corporate Bond ETF Price Performance

The firm has a market cap of $532.13 million, a P/E ratio of 59.99 and a beta of 0.39. The firm’s 50 day moving average is $47.25 and its 200 day moving average is $47.15.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Confluence Investment Management LLC grew its holdings in shares of iShares BB Rated Corporate Bond ETF by 239.3% during the third quarter. Confluence Investment Management LLC now owns 270,829 shares of the company’s stock valued at $12,813,000 after buying an additional 191,003 shares during the last quarter. Benjamin Edwards Inc. raised its holdings in iShares BB Rated Corporate Bond ETF by 136.7% in the 3rd quarter. Benjamin Edwards Inc. now owns 731,275 shares of the company’s stock worth $34,596,000 after acquiring an additional 422,349 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its position in iShares BB Rated Corporate Bond ETF by 25.4% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 274,526 shares of the company’s stock valued at $12,903,000 after acquiring an additional 55,578 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in iShares BB Rated Corporate Bond ETF by 13.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 135,096 shares of the company’s stock valued at $6,391,000 after purchasing an additional 15,556 shares during the last quarter. Finally, Arrowroot Family Office LLC purchased a new stake in iShares BB Rated Corporate Bond ETF during the 2nd quarter valued at $816,000.

iShares BB Rated Corporate Bond ETF Company Profile

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.