iShares 0-5 Year High Yield Corporate Bond ETF (NYSEARCA:SHYG) Sees Large Volume Increase – Time to Buy?

Shares of iShares 0-5 Year High Yield Corporate Bond ETF (NYSEARCA:SHYG) saw unusually-high trading volume on Friday . Approximately 3,266,638 shares were traded during trading, an increase of 97% from the previous session’s volume of 1,656,655 shares.The stock last traded at $42.7050 and had previously closed at $42.75.

iShares 0-5 Year High Yield Corporate Bond ETF Price Performance

The firm has a market capitalization of $7.84 billion, a P/E ratio of 10.74 and a beta of 0.30. The business’s 50-day moving average is $43.10 and its 200 day moving average is $42.85.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SHYG. RiverFront Investment Group LLC boosted its holdings in shares of iShares 0-5 Year High Yield Corporate Bond ETF by 305.8% in the second quarter. RiverFront Investment Group LLC now owns 1,216,930 shares of the company’s stock worth $52,498,000 after acquiring an additional 917,031 shares during the period. Financial Gravity Asset Management Inc. purchased a new position in shares of iShares 0-5 Year High Yield Corporate Bond ETF during the first quarter valued at approximately $18,788,000. Motley Fool Wealth Management LLC grew its holdings in iShares 0-5 Year High Yield Corporate Bond ETF by 83.1% during the first quarter. Motley Fool Wealth Management LLC now owns 640,052 shares of the company’s stock valued at $27,215,000 after purchasing an additional 290,455 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of iShares 0-5 Year High Yield Corporate Bond ETF by 474.8% in the second quarter. Janney Montgomery Scott LLC now owns 231,390 shares of the company’s stock worth $9,982,000 after acquiring an additional 191,135 shares during the period. Finally, Ninety One UK Ltd increased its position in iShares 0-5 Year High Yield Corporate Bond ETF by 43.9% in the third quarter. Ninety One UK Ltd now owns 609,751 shares of the company’s stock worth $26,402,000 after purchasing an additional 186,000 shares during the last quarter.

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.