BondBloxx BB Rated USD High Yield Corporate Bond ETF (NYSEARCA:XBB) Hits New 12-Month High – Here’s Why

BondBloxx BB Rated USD High Yield Corporate Bond ETF (NYSEARCA:XBB) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $42.99 and last traded at $42.99, with a volume of 439 shares changing hands. The stock had previously closed at $40.65.

BondBloxx BB Rated USD High Yield Corporate Bond ETF Stock Performance

The stock has a 50-day simple moving average of $40.78 and a 200 day simple moving average of $40.91. The company has a market cap of $518.93 million, a P/E ratio of 59.99 and a beta of 0.39.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Cetera Investment Advisers raised its position in BondBloxx BB Rated USD High Yield Corporate Bond ETF by 1.2% in the first quarter. Cetera Investment Advisers now owns 21,953 shares of the company’s stock worth $893,000 after purchasing an additional 260 shares in the last quarter. MML Investors Services LLC lifted its stake in BondBloxx BB Rated USD High Yield Corporate Bond ETF by 6.6% during the fourth quarter. MML Investors Services LLC now owns 10,029 shares of the company’s stock worth $413,000 after purchasing an additional 623 shares during the period. CGN Advisors LLC lifted its stake in BondBloxx BB Rated USD High Yield Corporate Bond ETF by 6.5% during the second quarter. CGN Advisors LLC now owns 14,534 shares of the company’s stock worth $596,000 after purchasing an additional 885 shares during the period. Sage Rhino Capital LLC boosted its holdings in BondBloxx BB Rated USD High Yield Corporate Bond ETF by 1.7% during the fourth quarter. Sage Rhino Capital LLC now owns 57,637 shares of the company’s stock valued at $2,371,000 after purchasing an additional 954 shares in the last quarter. Finally, Kestra Advisory Services LLC boosted its holdings in BondBloxx BB Rated USD High Yield Corporate Bond ETF by 29.8% during the first quarter. Kestra Advisory Services LLC now owns 5,696 shares of the company’s stock valued at $232,000 after purchasing an additional 1,309 shares in the last quarter.

About BondBloxx BB Rated USD High Yield Corporate Bond ETF

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.