Schwab High Yield Bond ETF (NYSEARCA:SCYB) Sees Significant Decrease in Short Interest

Schwab High Yield Bond ETF (NYSEARCA:SCYB) was the recipient of a significant drop in short interest during the month of February. As of February 13th, there was short interest totaling 106,244 shares, a drop of 14.7% from the January 29th total of 124,569 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily volume of 1,252,678 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily volume of 1,252,678 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.1% of the company’s shares are short sold.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. grew its stake in Schwab High Yield Bond ETF by 344.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,014 shares of the company’s stock valued at $27,000 after buying an additional 786 shares in the last quarter. Howe & Rusling Inc. lifted its holdings in Schwab High Yield Bond ETF by 650.7% in the 2nd quarter. Howe & Rusling Inc. now owns 1,066 shares of the company’s stock worth $28,000 after buying an additional 924 shares during the period. AlphaCore Capital LLC bought a new position in Schwab High Yield Bond ETF in the 3rd quarter worth $29,000. Kestra Advisory Services LLC bought a new stake in Schwab High Yield Bond ETF during the 4th quarter valued at approximately $33,000. Finally, Arax Advisory Partners bought a new position in Schwab High Yield Bond ETF in the fourth quarter worth $39,000.

Schwab High Yield Bond ETF Trading Up 0.3%

Shares of SCYB opened at $26.33 on Thursday. The stock’s 50-day moving average price is $26.51 and its two-hundred day moving average price is $26.51. Schwab High Yield Bond ETF has a 12 month low of $24.73 and a 12 month high of $26.78. The company has a market capitalization of $2.25 billion, a PE ratio of 60.28 and a beta of 0.32.

Schwab High Yield Bond ETF Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, March 6th. Investors of record on Monday, March 2nd will be issued a $0.1449 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date is Monday, March 2nd.

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.