BondBloxx BB Rated USD High Yield Corporate Bond ETF (NYSEARCA:XBB) Sees Significant Drop in Short Interest

BondBloxx BB Rated USD High Yield Corporate Bond ETF (NYSEARCA:XBB) saw a large drop in short interest in the month of February. As of February 13th, there was short interest totaling 29,541 shares, a drop of 88.8% from the January 29th total of 264,570 shares. Approximately 0.3% of the company’s stock are short sold. Based on an average daily trading volume, of 140,890 shares, the short-interest ratio is currently 0.2 days. Based on an average daily trading volume, of 140,890 shares, the short-interest ratio is currently 0.2 days. Approximately 0.3% of the company’s stock are short sold.

BondBloxx BB Rated USD High Yield Corporate Bond ETF Stock Performance

Shares of NYSEARCA XBB traded up $0.14 during mid-day trading on Thursday, reaching $41.55. The company had a trading volume of 1,445,625 shares, compared to its average volume of 156,795. BondBloxx BB Rated USD High Yield Corporate Bond ETF has a twelve month low of $38.23 and a twelve month high of $41.61. The stock has a market capitalization of $409.27 million, a PE ratio of 59.99 and a beta of 0.44. The stock’s 50 day moving average is $41.32 and its 200-day moving average is $41.21.

BondBloxx BB Rated USD High Yield Corporate Bond ETF Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Thursday, February 5th. Shareholders of record on Monday, February 2nd were given a $0.1899 dividend. This represents a c) annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend was Monday, February 2nd.

Institutional Investors Weigh In On BondBloxx BB Rated USD High Yield Corporate Bond ETF

Several large investors have recently made changes to their positions in the company. Potomac Fund Management Inc. ADV increased its holdings in BondBloxx BB Rated USD High Yield Corporate Bond ETF by 16.9% in the fourth quarter. Potomac Fund Management Inc. ADV now owns 1,174,307 shares of the company’s stock worth $48,316,000 after buying an additional 169,347 shares during the last quarter. MML Investors Services LLC grew its position in BondBloxx BB Rated USD High Yield Corporate Bond ETF by 6.6% in the fourth quarter. MML Investors Services LLC now owns 10,029 shares of the company’s stock worth $413,000 after acquiring an additional 623 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in shares of BondBloxx BB Rated USD High Yield Corporate Bond ETF during the 4th quarter worth $181,000. Municipal Employees Retirement System of Michigan raised its holdings in shares of BondBloxx BB Rated USD High Yield Corporate Bond ETF by 18.4% during the 4th quarter. Municipal Employees Retirement System of Michigan now owns 7,372,511 shares of the company’s stock valued at $303,338,000 after purchasing an additional 1,144,871 shares in the last quarter. Finally, MGO One Seven LLC raised its holdings in shares of BondBloxx BB Rated USD High Yield Corporate Bond ETF by 3.5% during the 4th quarter. MGO One Seven LLC now owns 214,153 shares of the company’s stock valued at $8,811,000 after purchasing an additional 7,155 shares in the last quarter.

BondBloxx BB Rated USD High Yield Corporate Bond ETF Company Profile

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.