BondBloxx BB Rated USD High Yield Corporate Bond ETF (NYSEARCA:XBB) Stock Price Down 0.1% – Here’s Why

Shares of BondBloxx BB Rated USD High Yield Corporate Bond ETF (NYSEARCA:XBB) were down 0.1% on Wednesday . The company traded as low as $40.52 and last traded at $40.53. Approximately 20,584 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 205,457 shares. The stock had previously closed at $40.56.

BondBloxx BB Rated USD High Yield Corporate Bond ETF Stock Performance

The firm has a market capitalization of $517.41 million, a P/E ratio of 59.99 and a beta of 0.39. The company has a 50-day moving average price of $40.73 and a 200-day moving average price of $40.84.

Hedge Funds Weigh In On BondBloxx BB Rated USD High Yield Corporate Bond ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Municipal Employees Retirement System of Michigan grew its position 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 worth $303,338,000 after buying an additional 1,144,871 shares during the period. Potomac Fund Management Inc. ADV boosted its stake in BondBloxx BB Rated USD High Yield Corporate Bond ETF by 16.9% during the 4th quarter. Potomac Fund Management Inc. ADV now owns 1,174,307 shares of the company’s stock worth $48,316,000 after acquiring an additional 169,347 shares during the last quarter. Atwood & Palmer Inc. boosted its stake in BondBloxx BB Rated USD High Yield Corporate Bond ETF by 1.4% during the 2nd quarter. Atwood & Palmer Inc. now owns 507,082 shares of the company’s stock worth $20,788,000 after acquiring an additional 7,067 shares during the last quarter. Lido Advisors LLC boosted its stake in BondBloxx BB Rated USD High Yield Corporate Bond ETF by 22.8% during the 1st quarter. Lido Advisors LLC now owns 226,571 shares of the company’s stock worth $9,219,000 after acquiring an additional 42,003 shares during the last quarter. Finally, MGO One Seven LLC grew its holdings in BondBloxx BB Rated USD High Yield Corporate Bond ETF by 3.5% during the fourth 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 during the period.

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.