iShares 0-5 Year High Yield Corporate Bond ETF (NYSEARCA:SHYG) Sees Large Decrease 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 August. As of August 31st, there was short interest totaling 522,423 shares, a decline of 44.7% from the August 15th total of 943,881 shares. Currently, 0.3% of the company’s shares are sold short. Based on an average trading volume of 1,002,713 shares, the days-to-cover ratio is presently 0.5 days.

iShares 0-5 Year High Yield Corporate Bond ETF Stock Up 0.1%

Shares of iShares 0-5 Year High Yield Corporate Bond ETF stock traded up $0.04 during mid-day trading on Wednesday, hitting $41.73. The stock had a trading volume of 1,938,086 shares, compared to its average volume of 1,550,041. The firm has a market cap of $7.55 billion, a P/E ratio of 10.74 and a beta of 0.28. iShares 0-5 Year High Yield Corporate Bond ETF has a 12-month low of $41.68 and a 12-month high of $43.39. The firm has a 50-day moving average of $42.12 and a two-hundred day moving average of $42.29.

Hedge Funds Weigh In On iShares 0-5 Year High Yield Corporate Bond ETF

Several hedge funds have recently bought and sold shares of SHYG. Parallel Advisors LLC raised its stake in iShares 0-5 Year High Yield Corporate Bond ETF by 5.4% in the fourth quarter. Parallel Advisors LLC now owns 8,182 shares of the company’s stock valued at $351,000 after purchasing an additional 418 shares in the last quarter. Root Financial Partners LLC increased its stake in iShares 0-5 Year High Yield Corporate Bond ETF by 3.7% in the first quarter. Root Financial Partners LLC now owns 14,458 shares of the company’s stock valued at $612,000 after acquiring an additional 513 shares during the last quarter. Cornerstone Financial Management LLC bought a new position in iShares 0-5 Year High Yield Corporate Bond ETF in the fourth quarter valued at $27,000. Mount Lucas Management LP raised its position in iShares 0-5 Year High Yield Corporate Bond ETF by 1.3% during the second quarter. Mount Lucas Management LP now owns 52,003 shares of the company’s stock valued at $2,205,000 after purchasing an additional 647 shares in the last quarter. Finally, Ascentis Independent Advisors bought a new stake in iShares 0-5 Year High Yield Corporate Bond ETF during the first quarter worth about $42,000.

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.