iShares iBoxx $ High Yield Corporate Bond ETF (NYSEARCA:HYG) Sees Large Increase in Short Interest
by Tristan Rich · The Markets DailyiShares iBoxx $ High Yield Corporate Bond ETF (NYSEARCA:HYG – Get Free Report) saw a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 150,209,099 shares, a growth of 47.5% from the February 26th total of 101,815,053 shares. Currently, 67.3% of the shares of the company are short sold. Based on an average daily trading volume, of 76,662,046 shares, the days-to-cover ratio is presently 2.0 days.
iShares iBoxx $ High Yield Corporate Bond ETF Stock Performance
Shares of HYG stock opened at $78.72 on Monday. iShares iBoxx $ High Yield Corporate Bond ETF has a 12 month low of $75.08 and a 12 month high of $81.36. The stock has a market cap of $17.57 billion, a P/E ratio of 10.79 and a beta of 0.41. The company has a 50 day simple moving average of $80.39 and a two-hundred day simple moving average of $80.61.
Institutional Investors Weigh In On iShares iBoxx $ High Yield Corporate Bond ETF
Several hedge funds and other institutional investors have recently modified their holdings of HYG. Union Savings Bank purchased a new position in iShares iBoxx $ High Yield Corporate Bond ETF during the fourth quarter valued at $217,000. Sunbelt Securities Inc. increased its position in iShares iBoxx $ High Yield Corporate Bond ETF by 16.3% in the fourth quarter. Sunbelt Securities Inc. now owns 18,778 shares of the exchange traded fund’s stock worth $1,514,000 after buying an additional 2,630 shares in the last quarter. Ameriflex Group Inc. increased its position in iShares iBoxx $ High Yield Corporate Bond ETF by 17.9% in the fourth quarter. Ameriflex Group Inc. now owns 2,153 shares of the exchange traded fund’s stock worth $174,000 after buying an additional 327 shares in the last quarter. Virtue Capital Management LLC raised its stake in shares of iShares iBoxx $ High Yield Corporate Bond ETF by 20.3% in the fourth quarter. Virtue Capital Management LLC now owns 16,274 shares of the exchange traded fund’s stock worth $1,313,000 after buying an additional 2,741 shares during the period. Finally, NewEdge Advisors LLC raised its stake in shares of iShares iBoxx $ High Yield Corporate Bond ETF by 112.7% in the fourth quarter. NewEdge Advisors LLC now owns 26,539 shares of the exchange traded fund’s stock worth $2,140,000 after buying an additional 14,061 shares during the period.
iShares iBoxx $ High Yield Corporate Bond ETF Company Profile
iShares iBoxx $ High Yield Corporate Bond ETF (the Fund), formerly iShares iBoxx $ High Yield Corporate Bond Fund, is an exchange-traded fund (ETF). The Fund seeks to track the investment results of the Markit iBoxx USD Liquid High Yield Index (the Index), which is a rules-based index consisting of liquid the United States dollar-denominated, high yield corporate bonds for sale in the United States, as determined by the index provider. The Index may include large-, mid- or small-capitalization companies, and components primarily include consumer services, financial, industrials, and oil and gas companies.