BondBloxx BB Rated USD High Yield Corporate Bond ETF (NYSEARCA:XBB) Reaches New 52-Week High – Still a Buy?

BondBloxx BB Rated USD High Yield Corporate Bond ETF (NYSEARCA:XBB)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $42.99 and last traded at $42.99, with a volume of 439 shares. The stock had previously closed at $40.65.

BondBloxx BB Rated USD High Yield Corporate Bond ETF Stock Up 0.1%

The company has a market cap of $518.93 million, a P/E ratio of 59.99 and a beta of 0.39. The firm has a fifty day moving average price of $40.78 and a 200 day moving average price of $40.91.

Institutional Investors Weigh In On BondBloxx BB Rated USD High Yield Corporate Bond ETF

Hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC raised its stake in shares of BondBloxx BB Rated USD High Yield Corporate Bond ETF by 126.1% in the first quarter. Jane Street Group LLC now owns 31,367 shares of the company’s stock worth $1,268,000 after acquiring an additional 17,497 shares during the last quarter. Envestnet Asset Management Inc. bought a new stake in shares of BondBloxx BB Rated USD High Yield Corporate Bond ETF during the third quarter valued at approximately $389,000. Lido Advisors LLC grew its stake in shares of BondBloxx BB Rated USD High Yield Corporate Bond ETF by 2.7% during the third quarter. Lido Advisors LLC now owns 187,589 shares of the company’s stock valued at $7,756,000 after purchasing an additional 5,015 shares during the last quarter. Atwood & Palmer Inc. increased its holdings in shares of BondBloxx BB Rated USD High Yield Corporate Bond ETF by 2.3% in the fourth quarter. Atwood & Palmer Inc. now owns 486,275 shares of the company’s stock valued at $20,007,000 after purchasing an additional 11,119 shares in the last quarter. Finally, Sage Rhino Capital LLC increased its holdings in shares of BondBloxx BB Rated USD High Yield Corporate Bond ETF by 1.7% in the fourth quarter. Sage Rhino Capital LLC now owns 57,637 shares of the company’s stock valued at $2,371,000 after purchasing an additional 954 shares in the last quarter.

About BondBloxx BB Rated USD High Yield Corporate Bond ETF

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.