iShares Broad USD High Yield Corporate Bond ETF (BATS:USHY) Hits New 52-Week Low – Here’s Why

iShares Broad USD High Yield Corporate Bond ETF (BATS:USHY) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $36.24 and last traded at $36.24, with a volume of 18562053 shares changing hands. The stock had previously closed at $36.31.

iShares Broad USD High Yield Corporate Bond ETF Stock Performance

The company has a market capitalization of $22.90 billion, a P/E ratio of 10.79 and a beta of 0.41. The company has a 50-day simple moving average of $36.73 and a 200 day simple moving average of $36.88.

Hedge Funds Weigh In On iShares Broad USD High Yield Corporate Bond ETF

A number of institutional investors and hedge funds have recently bought and sold shares of USHY. JPMorgan Chase & Co. raised its stake in iShares Broad USD High Yield Corporate Bond ETF by 56.0% during the 4th quarter. JPMorgan Chase & Co. now owns 11,904,449 shares of the company’s stock valued at $445,167,000 after purchasing an additional 4,272,229 shares during the last quarter. TIAA Trust National Association grew its position in iShares Broad USD High Yield Corporate Bond ETF by 4.3% in the 4th quarter. TIAA Trust National Association now owns 9,768,912 shares of the company’s stock worth $365,532,000 after purchasing an additional 403,934 shares during the last quarter. Bank of New York Mellon Corp grew its position in iShares Broad USD High Yield Corporate Bond ETF by 7.2% in the 4th quarter. Bank of New York Mellon Corp now owns 2,396,151 shares of the company’s stock worth $89,604,000 after purchasing an additional 160,258 shares during the last quarter. One Capital Management LLC increased its holdings in shares of iShares Broad USD High Yield Corporate Bond ETF by 11.1% during the 4th quarter. One Capital Management LLC now owns 2,341,985 shares of the company’s stock worth $87,579,000 after purchasing an additional 234,803 shares during the period. Finally, Venturi Wealth Management LLC increased its holdings in shares of iShares Broad USD High Yield Corporate Bond ETF by 5,219.9% during the 1st quarter. Venturi Wealth Management LLC now owns 1,316,148 shares of the company’s stock worth $48,487,000 after purchasing an additional 1,291,408 shares during the period.

iShares Broad USD High Yield Corporate Bond ETF Company Profile

The iShares Broad USD High Yield Corporate Bond ETF (USHY) is an exchange-traded fund that is based on the ICE BofA US High Yield Constrained index. The fund tracks a market value-weighted index of USD-denominated high yield corporate debt with broad maturities. USHY was launched on Oct 25, 2017 and is managed by BlackRock.