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

iShares BB Rated Corporate Bond ETF (NYSEARCA:HYBB) saw a large growth in short interest during the month of 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. Currently, 1.5% of the company’s stock are short sold. Based on an average daily trading volume, of 26,817 shares, the short-interest ratio is currently 5.1 days.

iShares BB Rated Corporate Bond ETF Price Performance

Shares of HYBB traded down $0.05 during mid-day trading on Friday, reaching $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 stock has a market cap of $409.82 million, a PE ratio of 59.99 and a beta of 0.37. The company’s 50 day moving average is $46.64 and its 200 day moving average is $46.86.

Hedge Funds Weigh In On iShares BB Rated Corporate Bond ETF

Several hedge funds have recently added to or reduced their stakes in the stock. Fiduciary Financial Group LLC raised its holdings in iShares BB Rated Corporate Bond ETF by 7.0% during the second quarter. Fiduciary Financial Group LLC now owns 11,124 shares of the company’s stock worth $520,000 after purchasing an additional 724 shares in the last quarter. Bank of America Corp DE lifted its position in shares of iShares BB Rated Corporate Bond ETF by 77.0% during the 1st quarter. Bank of America Corp DE now owns 34,887 shares of the company’s stock worth $1,622,000 after buying an additional 15,174 shares during the last quarter. IFS Group LLC purchased a new stake in shares of iShares BB Rated Corporate Bond ETF during the 1st quarter worth approximately $207,000. Royal Bank of Canada boosted its holdings in shares of iShares BB Rated Corporate Bond ETF by 661.3% in the 1st quarter. Royal Bank of Canada now owns 1,454 shares of the company’s stock valued at $68,000 after buying an additional 1,263 shares in the last quarter. Finally, Valmark Advisers Inc. boosted its holdings in shares of iShares BB Rated Corporate Bond ETF by 5.2% in the 1st quarter. Valmark Advisers Inc. now owns 1,531,588 shares of the company’s stock valued at $71,204,000 after buying an additional 75,445 shares in the last quarter.

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.