BondBloxx BB Rated USD High Yield Corporate Bond ETF (NYSEARCA:XBB) Sees Significant Increase in Short Interest

BondBloxx BB Rated USD High Yield Corporate Bond ETF (NYSEARCA:XBB) was the target of a significant growth in short interest in February. As of February 27th, there was short interest totaling 721,138 shares, a growth of 2,341.1% from the February 12th total of 29,541 shares. Based on an average daily volume of 168,816 shares, the days-to-cover ratio is currently 4.3 days. Approximately 7.3% of the shares of the stock are sold short. Approximately 7.3% of the shares of the stock are sold short. Based on an average daily volume of 168,816 shares, the days-to-cover ratio is currently 4.3 days.

BondBloxx BB Rated USD High Yield Corporate Bond ETF Stock Performance

Shares of NYSEARCA XBB traded down $0.15 during midday trading on Thursday, reaching $40.70. The stock had a trading volume of 586 shares, compared to its average volume of 160,599. The company has a market capitalization of $400.90 million, a price-to-earnings ratio of 59.99 and a beta of 0.44. BondBloxx BB Rated USD High Yield Corporate Bond ETF has a 12-month low of $38.23 and a 12-month high of $41.61. The stock has a 50-day moving average of $41.27 and a 200-day moving average of $41.22.

BondBloxx BB Rated USD High Yield Corporate Bond ETF Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Thursday, March 5th. Shareholders of record on Monday, March 2nd were paid a $0.1621 dividend. This represents a c) dividend on an annualized basis and a yield of 4.8%. The ex-dividend date was Monday, March 2nd.

Hedge Funds Weigh In On BondBloxx BB Rated USD High Yield Corporate Bond ETF

Several large investors have recently made changes to their positions in the business. Potomac Fund Management Inc. ADV boosted its stake in shares of BondBloxx BB Rated USD High Yield Corporate Bond ETF by 16.9% in the fourth quarter. Potomac Fund Management Inc. ADV now owns 1,174,307 shares of the company’s stock worth $48,316,000 after acquiring an additional 169,347 shares during the period. MML Investors Services LLC lifted its holdings in BondBloxx BB Rated USD High Yield Corporate Bond ETF by 6.6% in the 4th quarter. MML Investors Services LLC now owns 10,029 shares of the company’s stock worth $413,000 after purchasing an additional 623 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in BondBloxx BB Rated USD High Yield Corporate Bond ETF in the 4th quarter worth approximately $181,000. Municipal Employees Retirement System of Michigan boosted its stake in BondBloxx BB Rated USD High Yield Corporate Bond ETF by 18.4% in the 4th quarter. Municipal Employees Retirement System of Michigan now owns 7,372,511 shares of the company’s stock worth $303,338,000 after purchasing an additional 1,144,871 shares during the period. Finally, MGO One Seven LLC boosted its stake in BondBloxx BB Rated USD High Yield Corporate Bond ETF by 3.5% in the 4th quarter. MGO One Seven LLC now owns 214,153 shares of the company’s stock worth $8,811,000 after purchasing an additional 7,155 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.