BNY Mellon High Yield ETF (NYSEARCA:BKHY) Sees Significant Decrease in Short Interest

BNY Mellon High Yield ETF (NYSEARCA:BKHY) was the target of a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 15,509 shares, a drop of 32.5% from the August 15th total of 22,969 shares. Based on an average daily volume of 20,947 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.5% of the company’s shares are sold short.

BNY Mellon High Yield ETF Price Performance

NYSEARCA BKHY traded up $0.16 on Thursday, hitting $46.72. 5,491 shares of the company were exchanged, compared to its average volume of 50,077. BNY Mellon High Yield ETF has a twelve month low of $46.53 and a twelve month high of $48.89. The company’s 50 day moving average price is $47.19 and its 200-day moving average price is $47.40.

BNY Mellon High Yield ETF Increases Dividend

The company also recently declared a monthly dividend, which was paid on Thursday, August 6th. Investors of record on Monday, August 3rd were given a $0.2774 dividend. This is a boost from BNY Mellon High Yield ETF’s previous monthly dividend of $0.27. The ex-dividend date was Monday, August 3rd. This represents a c) annualized dividend and a dividend yield of 7.1%.

Hedge Funds Weigh In On BNY Mellon High Yield ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its holdings in shares of BNY Mellon High Yield ETF by 4.4% in the first quarter. Royal Bank of Canada now owns 9,434 shares of the company’s stock valued at $447,000 after purchasing an additional 394 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in BNY Mellon High Yield ETF by 6,208.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 11,859 shares of the company’s stock valued at $570,000 after acquiring an additional 11,671 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of BNY Mellon High Yield ETF by 9.0% in the first quarter. Janney Montgomery Scott LLC now owns 16,460 shares of the company’s stock worth $780,000 after purchasing an additional 1,360 shares in the last quarter. Rodgers & Associates LTD lifted its position in shares of BNY Mellon High Yield ETF by 4.7% in the second quarter. Rodgers & Associates LTD now owns 32,124 shares of the company’s stock worth $932,000 after purchasing an additional 1,439 shares in the last quarter. Finally, Symphony Financial Ltd. Co. lifted its position in shares of BNY Mellon High Yield ETF by 7.9% in the second quarter. Symphony Financial Ltd. Co. now owns 20,841 shares of the company’s stock worth $992,000 after purchasing an additional 1,533 shares in the last quarter.

BNY Mellon High Yield ETF Company Profile

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.