iShares 0-5 Year High Yield Corporate Bond ETF (NYSEARCA:SHYG) Stock Short Interest Climbs 80.7%

iShares 0-5 Year High Yield Corporate Bond ETF (NYSEARCA:SHYG) was the recipient of a significant growth in short interest in the month of September. As of September 30th, there was short interest totaling 620,378 shares, a growth of 80.7% from the September 15th total of 343,400 shares. Based on an average daily volume of 1,701,352 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.3% of the company’s shares are sold short.

iShares 0-5 Year High Yield Corporate Bond ETF Price Performance

Shares of NYSEARCA:SHYG traded up $0.04 during midday trading on Thursday, reaching $41.10. 166,718 shares of the company’s stock were exchanged, compared to its average volume of 1,564,674. The firm’s 50 day simple moving average is $41.80 and its two-hundred day simple moving average is $42.15. iShares 0-5 Year High Yield Corporate Bond ETF has a fifty-two week low of $40.82 and a fifty-two week high of $43.31. The stock has a market cap of $7.61 billion, a price-to-earnings ratio of 10.74 and a beta of 0.29.

Hedge Funds Weigh In On iShares 0-5 Year High Yield Corporate Bond ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SHYG. Ascentis Independent Advisors purchased a new stake in shares of iShares 0-5 Year High Yield Corporate Bond ETF in the 1st quarter worth about $42,000. NBT Bank N A NY grew its stake in iShares 0-5 Year High Yield Corporate Bond ETF by 3,551.2% in the 1st quarter. NBT Bank N A NY now owns 1,570 shares of the company’s stock valued at $66,000 after acquiring an additional 1,527 shares during the last quarter. Monetary Solutions Ltd purchased a new position in iShares 0-5 Year High Yield Corporate Bond ETF during the 4th quarter valued at about $66,000. Parallel Advisors LLC increased its holdings in iShares 0-5 Year High Yield Corporate Bond ETF by 28.5% during the 1st quarter. Parallel Advisors LLC now owns 10,513 shares of the company’s stock valued at $445,000 after acquiring an additional 2,331 shares in the last quarter. Finally, Root Financial Partners LLC increased its holdings in iShares 0-5 Year High Yield Corporate Bond ETF by 3.7% during the 1st quarter. Root Financial Partners LLC now owns 14,458 shares of the company’s stock valued at $612,000 after acquiring an additional 513 shares in the last quarter.

About iShares 0-5 Year High Yield Corporate Bond ETF

The iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) is an exchange-traded fund that mostly invests in high yield fixed income. The fund tracks a market-value-weighted index of high-yield USD-denominated bonds with 0-5 years remaining in maturity. SHYG was launched on Oct 15, 2013 and is managed by BlackRock.