BondBloxx BB Rated USD High Yield Corporate Bond ETF (NYSEARCA:XBB) Sees Large Volume Increase – Time to Buy?

Shares of BondBloxx BB Rated USD High Yield Corporate Bond ETF (NYSEARCA:XBB) saw unusually-strong trading volume on Wednesday . 1,111,457 shares changed hands during mid-day trading, an increase of 534% from the previous session’s volume of 175,260 shares.The stock last traded at $40.86 and had previously closed at $40.81.

BondBloxx BB Rated USD High Yield Corporate Bond ETF Stock Performance

The company’s 50 day moving average price is $40.86 and its 200 day moving average price is $41.00. The company has a market cap of $528.71 million, a price-to-earnings ratio of 59.99 and a beta of 0.39.

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

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Municipal Employees Retirement System of Michigan raised its position in shares of BondBloxx BB Rated USD High Yield Corporate Bond ETF by 18.4% during the 4th quarter. Municipal Employees Retirement System of Michigan now owns 7,372,511 shares of the company’s stock valued at $303,338,000 after acquiring an additional 1,144,871 shares during the last quarter. Potomac Fund Management Inc. ADV grew its stake in shares of BondBloxx BB Rated USD High Yield Corporate Bond ETF by 16.9% during the fourth quarter. Potomac Fund Management Inc. ADV now owns 1,174,307 shares of the company’s stock worth $48,316,000 after purchasing an additional 169,347 shares during the period. Atwood & Palmer Inc. increased its holdings in BondBloxx BB Rated USD High Yield Corporate Bond ETF by 1.4% in the second quarter. Atwood & Palmer Inc. now owns 507,082 shares of the company’s stock valued at $20,788,000 after purchasing an additional 7,067 shares during the last quarter. Lido Advisors LLC increased its holdings in BondBloxx BB Rated USD High Yield Corporate Bond ETF by 22.8% in the first quarter. Lido Advisors LLC now owns 226,571 shares of the company’s stock valued at $9,219,000 after purchasing an additional 42,003 shares during the last quarter. Finally, MGO One Seven LLC lifted its stake in BondBloxx BB Rated USD High Yield Corporate Bond ETF by 3.5% in the fourth quarter. MGO One Seven LLC now owns 214,153 shares of the company’s stock valued at $8,811,000 after buying 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.