iShares 0-5 Year High Yield Corporate Bond ETF (NYSEARCA:SHYG) Sees Large Decline in Short Interest

iShares 0-5 Year High Yield Corporate Bond ETF (NYSEARCA:SHYG) was the recipient of a large decline in short interest during the month of May. As of May 29th, there was short interest totaling 500,965 shares, a decline of 54.5% from the May 14th total of 1,101,484 shares. Based on an average daily trading volume, of 1,253,027 shares, the short-interest ratio is currently 0.4 days. Approximately 0.3% of the company’s shares are sold short.

Institutional Investors Weigh In On iShares 0-5 Year High Yield Corporate Bond ETF

A number of institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its position 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 valued at $48,629,000 after buying an additional 272,163 shares during the last quarter. Sound Income Strategies LLC grew its position in shares of iShares 0-5 Year High Yield Corporate Bond ETF by 3.5% in the 4th quarter. Sound Income Strategies LLC now owns 1,035,730 shares of the company’s stock valued at $44,588,000 after buying an additional 34,667 shares during the last quarter. Financial Gravity Asset Management Inc. grew its position in shares of iShares 0-5 Year High Yield Corporate Bond ETF by 7.4% in the 4th 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. Loomis Sayles & Co. L P grew its position in shares of iShares 0-5 Year High Yield Corporate Bond ETF by 22.1% in the 4th quarter. Loomis Sayles & Co. L P now owns 466,000 shares of the company’s stock valued at $19,977,000 after buying an additional 84,500 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of iShares 0-5 Year High Yield Corporate Bond ETF by 8.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 432,109 shares of the company’s stock valued at $18,710,000 after buying an additional 34,416 shares during the last quarter.

iShares 0-5 Year High Yield Corporate Bond ETF Stock Up 0.0%

Shares of NYSEARCA SHYG traded up $0.02 during trading on Friday, reaching $42.36. The company had a trading volume of 899,591 shares, compared to its average volume of 1,652,978. The company’s fifty day moving average price is $42.44 and its 200-day moving average price is $42.64. iShares 0-5 Year High Yield Corporate Bond ETF has a 12 month low of $41.83 and a 12 month high of $43.39. The stock has a market cap of $7.53 billion, a P/E ratio of 10.74 and a beta of 0.28.

iShares 0-5 Year High Yield Corporate Bond ETF Company Profile

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.