BNY Mellon High Yield ETF (NYSEARCA:BKHY) Sees Large Drop in Short Interest

BNY Mellon High Yield ETF (NYSEARCA:BKHY) was the recipient of a large decrease in short interest in February. As of February 13th, there was short interest totaling 4,950 shares, a decrease of 65.4% from the January 29th total of 14,321 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily volume of 20,602 shares, the short-interest ratio is currently 0.2 days. Based on an average daily volume of 20,602 shares, the short-interest ratio is currently 0.2 days. Approximately 0.1% of the shares of the company are sold short.

BNY Mellon High Yield ETF Trading Up 0.1%

BKHY opened at $48.26 on Thursday. The company has a 50 day simple moving average of $48.27 and a two-hundred day simple moving average of $48.33. BNY Mellon High Yield ETF has a 1-year low of $42.33 and a 1-year high of $48.89.

BNY Mellon High Yield ETF Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Thursday, February 5th. Shareholders of record on Monday, February 2nd were given a dividend of $0.2633 per share. The ex-dividend date of this dividend was Monday, February 2nd. This represents a c) dividend on an annualized basis and a yield of 6.5%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BKHY. Envestnet Asset Management Inc. increased its holdings in shares of BNY Mellon High Yield ETF by 19.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 147,391 shares of the company’s stock valued at $7,178,000 after purchasing an additional 24,265 shares in the last quarter. Heritage Oak Wealth Advisors LLC increased its position in shares of BNY Mellon High Yield ETF by 51.6% during the third quarter. Heritage Oak Wealth Advisors LLC now owns 91,149 shares of the company’s stock valued at $4,439,000 after acquiring an additional 31,017 shares during the last quarter. Assetmark Inc. boosted its stake in shares of BNY Mellon High Yield ETF by 6.4% in the 2nd quarter. Assetmark Inc. now owns 214,649 shares of the company’s stock valued at $10,364,000 after buying an additional 12,894 shares during the period. Arkadios Wealth Advisors lifted its position in shares of BNY Mellon High Yield ETF by 26.9% during the 2nd quarter. Arkadios Wealth Advisors now owns 7,663 shares of the company’s stock worth $370,000 after buying an additional 1,623 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of BNY Mellon High Yield ETF by 27.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 548,255 shares of the company’s stock valued at $26,472,000 after buying an additional 119,039 shares in the last quarter.

About BNY Mellon High Yield ETF

The BNY Mellon High Yield Beta ETF (BKHY) is an exchange-traded fund that mostly invests in high yield fixed income. The fund tracks a market value-weighted index of USD-denominated high yield corporate bonds with broad maturities. BKHY was launched on Apr 24, 2020 and is managed by BNY Mellon.