BondBloxx BB Rated USD High Yield Corporate Bond ETF (NYSEARCA:XBB) Hits New 12-Month Low – Here’s Why

BondBloxx BB Rated USD High Yield Corporate Bond ETF (NYSEARCA:XBB)’s stock price hit a new 52-week low during trading on Wednesday. The stock traded as low as $40.09 and last traded at $40.0990, with a volume of 2701 shares traded. The stock had previously closed at $40.26.

BondBloxx BB Rated USD High Yield Corporate Bond ETF Stock Down 0.3%

The stock has a market capitalization of $511.52 million, a PE ratio of 59.99 and a beta of 0.39. The business’s 50-day moving average is $40.55 and its two-hundred day moving average is $40.73.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its stake in BondBloxx BB Rated USD High Yield Corporate Bond ETF by 56.6% in the second quarter. Envestnet Asset Management Inc. now owns 21,148 shares of the company’s stock valued at $867,000 after buying an additional 7,640 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of BondBloxx BB Rated USD High Yield Corporate Bond ETF by 10.1% in the 2nd quarter. IFP Advisors Inc now owns 78,747 shares of the company’s stock valued at $3,228,000 after acquiring an additional 7,253 shares during the period. Atwood & Palmer Inc. raised its position in BondBloxx BB Rated USD High Yield Corporate Bond ETF by 1.4% in the 2nd quarter. Atwood & Palmer Inc. now owns 507,082 shares of the company’s stock valued at $20,788,000 after purchasing an additional 7,067 shares during the last quarter. GK Wealth Management LLC acquired a new stake in BondBloxx BB Rated USD High Yield Corporate Bond ETF during the 2nd quarter worth $284,000. Finally, CGN Advisors LLC boosted its stake in BondBloxx BB Rated USD High Yield Corporate Bond ETF by 6.5% during the 2nd quarter. CGN Advisors LLC now owns 14,534 shares of the company’s stock worth $596,000 after purchasing an additional 885 shares during the period.

BondBloxx BB Rated USD High Yield Corporate Bond ETF Company Profile

The BondBloxx BB Rated USD High Yield Corporate Bond ETF (XBB) is an exchange-traded fund that mostly invests in high yield fixed income. The fund tracks a market value-weighted index that specifically invests in USD-denominated corporate bonds with a credit rating of BB (or its equivalent), based on an average of three main credit rating providers. XBB was launched on May 24, 2022 and is managed by BondBloxx.