Schwab High Yield Bond ETF (NYSEARCA:SCYB) Sees Large Growth in Short Interest

Schwab High Yield Bond ETF (NYSEARCA:SCYB) was the recipient of a significant growth in short interest in February. As of February 27th, there was short interest totaling 429,927 shares, a growth of 304.7% from the February 12th total of 106,244 shares. Based on an average trading volume of 1,107,137 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.5% of the shares of the stock are short sold. Approximately 0.5% of the shares of the stock are short sold. Based on an average trading volume of 1,107,137 shares, the days-to-cover ratio is presently 0.4 days.

Schwab High Yield Bond ETF Stock Performance

Shares of NYSEARCA:SCYB opened at $25.98 on Friday. The company’s fifty day moving average is $26.47 and its 200-day moving average is $26.50. Schwab High Yield Bond ETF has a 52 week low of $24.73 and a 52 week high of $26.78. The company has a market capitalization of $2.22 billion, a PE ratio of 60.28 and a beta of 0.32.

Schwab High Yield Bond ETF Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, March 6th. Shareholders of record on Monday, March 2nd were paid a dividend of $0.1449 per share. This represents a c) annualized dividend and a yield of 6.7%. The ex-dividend date of this dividend was Monday, March 2nd.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of SCYB. Corient Private Wealth LLC acquired a new position in shares of Schwab High Yield Bond ETF in the 4th quarter worth approximately $420,000. Mercer Global Advisors Inc. ADV raised its position in Schwab High Yield Bond ETF by 37.8% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 16,471 shares of the company’s stock valued at $435,000 after purchasing an additional 4,517 shares during the last quarter. EP Wealth Advisors LLC bought a new position in Schwab High Yield Bond ETF in the 4th quarter valued at $518,000. Strategic Financial Planning Inc. boosted its stake in Schwab High Yield Bond ETF by 3.9% in the fourth quarter. Strategic Financial Planning Inc. now owns 237,534 shares of the company’s stock worth $6,276,000 after purchasing an additional 8,828 shares in the last quarter. Finally, Cetera Investment Advisers grew its holdings in shares of Schwab High Yield Bond ETF by 6.8% during the fourth quarter. Cetera Investment Advisers now owns 38,046 shares of the company’s stock worth $1,005,000 after purchasing an additional 2,424 shares during the last quarter.

About Schwab High Yield Bond ETF

The Schwab High Yield Bond ETF (SCYB) is an exchange-traded fund that mostly invests in high yield fixed income. The fund tracks an index of USD-denominated high-yield, US corporate bonds, selected and weighted based on market value. SCYB was launched on Jul 11, 2023 and is managed by Charles Schwab.