iShares 0-5 Year High Yield Corporate Bond ETF (NYSEARCA:SHYG) Hits New 12-Month Low – Here’s What Happened

iShares 0-5 Year High Yield Corporate Bond ETF (NYSEARCA:SHYG) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $41.83 and last traded at $41.8250, with a volume of 85711 shares trading hands. The stock had previously closed at $41.92.

iShares 0-5 Year High Yield Corporate Bond ETF Stock Down 0.2%

The stock has a market capitalization of $7.56 billion, a P/E ratio of 10.74 and a beta of 0.28. The business’s 50 day simple moving average is $42.16 and its two-hundred day simple moving average is $42.32.

Institutional Trading of iShares 0-5 Year High Yield Corporate Bond ETF

Several institutional investors and hedge funds have recently modified their holdings of the stock. Financial Gravity Asset Management Inc. boosted its position in shares of iShares 0-5 Year High Yield Corporate Bond ETF by 7.4% during the fourth quarter. Financial Gravity Asset Management Inc. now owns 526,684 shares of the company’s stock valued at $22,579,000 after buying an additional 36,272 shares during the last quarter. Argent Advisors Inc. bought a new position in iShares 0-5 Year High Yield Corporate Bond ETF during the 4th quarter valued at $603,000. SG Americas Securities LLC purchased a new position in iShares 0-5 Year High Yield Corporate Bond ETF during the 1st quarter worth $1,254,000. Bank of New York Mellon Corp grew its stake in shares of iShares 0-5 Year High Yield Corporate Bond ETF by 31.0% in the 1st quarter. Bank of New York Mellon Corp now owns 1,149,340 shares of the company’s stock worth $48,629,000 after acquiring an additional 272,163 shares in the last quarter. Finally, RMG Wealth Management LLC purchased a new stake in shares of iShares 0-5 Year High Yield Corporate Bond ETF in the first quarter valued at about $1,220,000.

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.