iShares 0-5 Year High Yield Corporate Bond ETF (NYSEARCA:SHYG) Hits New 1-Year Low – Time to Sell?

Shares of iShares 0-5 Year High Yield Corporate Bond ETF (NYSEARCA:SHYG) hit a new 52-week low during trading on Thursday . The company traded as low as $41.83 and last traded at $41.8250, with a volume of 85711 shares. The stock had previously closed at $41.92.

iShares 0-5 Year High Yield Corporate Bond ETF Price Performance

The firm’s fifty day moving average is $42.15 and its two-hundred day moving average is $42.31. The firm has a market cap of $7.55 billion, a P/E ratio of 10.74 and a beta of 0.28.

Hedge Funds Weigh In On iShares 0-5 Year High Yield Corporate Bond ETF

Hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in shares of iShares 0-5 Year High Yield Corporate Bond ETF by 31.0% in the 1st quarter. Bank of New York Mellon Corp now owns 1,149,340 shares of the company’s stock worth $48,629,000 after buying an additional 272,163 shares in the last quarter. Legacy Financial Group LLC lifted its holdings in shares of iShares 0-5 Year High Yield Corporate Bond ETF by 62.7% in the fourth quarter. Legacy Financial Group LLC now owns 417,113 shares of the company’s stock valued at $17,836,000 after purchasing an additional 160,814 shares in the last quarter. Loomis Sayles & Co. L P lifted its holdings in shares of iShares 0-5 Year High Yield Corporate Bond ETF by 22.1% in the fourth quarter. Loomis Sayles & Co. L P now owns 466,000 shares of the company’s stock valued at $19,977,000 after purchasing an additional 84,500 shares in the last quarter. Virtue Capital Management LLC increased its stake in shares of iShares 0-5 Year High Yield Corporate Bond ETF by 962.2% during the 4th quarter. Virtue Capital Management LLC now owns 79,572 shares of the company’s stock worth $3,414,000 after purchasing an additional 72,081 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. raised its position in shares of iShares 0-5 Year High Yield Corporate Bond ETF by 7.4% during the 4th quarter. Financial Gravity Asset Management Inc. now owns 526,684 shares of the company’s stock worth $22,579,000 after purchasing an additional 36,272 shares during the last quarter.

About iShares 0-5 Year High Yield Corporate Bond ETF

The iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) is an exchange-traded fund that mostly invests in high yield fixed income. The fund tracks a market-value-weighted index of high-yield USD-denominated bonds with 0-5 years remaining in maturity. SHYG was launched on Oct 15, 2013 and is managed by BlackRock.