iShares BB Rated Corporate Bond ETF (NYSEARCA:HYBB) Short Interest Up 1,000.8% in June

iShares BB Rated Corporate Bond ETF (NYSEARCA:HYBB) was the recipient of a large growth in short interest in June. As of June 30th, there was short interest totaling 136,217 shares, a growth of 1,000.8% from the June 15th total of 12,374 shares. Based on an average trading volume of 26,817 shares, the days-to-cover ratio is currently 5.1 days. Currently, 1.5% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HYBB. Public Employees Retirement System of Ohio purchased a new position in iShares BB Rated Corporate Bond ETF during the fourth quarter worth about $101,049,000. Valmark Advisers Inc. purchased a new stake in iShares BB Rated Corporate Bond ETF during the fourth quarter worth approximately $68,628,000. Stifel Financial Corp increased its holdings in iShares BB Rated Corporate Bond ETF by 44.5% in the 4th quarter. Stifel Financial Corp now owns 1,416,283 shares of the company’s stock valued at $66,749,000 after purchasing an additional 435,895 shares in the last quarter. Benjamin Edwards Inc. grew its stake in shares of iShares BB Rated Corporate Bond ETF by 47.9% in the fourth quarter. Benjamin Edwards Inc. now owns 1,081,255 shares of the company’s stock valued at $50,959,000 after buying an additional 349,980 shares in the last quarter. Finally, Confluence Investment Management LLC raised its holdings in shares of iShares BB Rated Corporate Bond ETF by 60.1% during the 4th quarter. Confluence Investment Management LLC now owns 433,506 shares of the company’s stock valued at $20,431,000 after buying an additional 162,677 shares during the period.

iShares BB Rated Corporate Bond ETF Price Performance

Shares of NYSEARCA HYBB traded down $0.05 on Friday, hitting $46.57. The company’s stock had a trading volume of 14,421 shares, compared to its average volume of 85,423. iShares BB Rated Corporate Bond ETF has a 12-month low of $45.92 and a 12-month high of $47.51. The company has a market capitalization of $409.82 million, a price-to-earnings ratio of 59.99 and a beta of 0.37. The stock has a 50 day moving average of $46.64 and a 200-day moving average of $46.86.

About iShares BB Rated Corporate Bond ETF

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.