iShares BB Rated Corporate Bond ETF (NYSEARCA:HYBB) Sees Large Volume Increase – Here’s What Happened

iShares BB Rated Corporate Bond ETF (NYSEARCA:HYBB) shares saw strong trading volume on Friday . 122,067 shares traded hands during mid-day trading, an increase of 9% from the previous session’s volume of 112,198 shares.The stock last traded at $47.3690 and had previously closed at $47.31.

iShares BB Rated Corporate Bond ETF Trading Down 0.0%

The stock has a 50 day moving average price of $47.14 and a two-hundred day moving average price of $47.05. The company has a market cap of $551.34 million, a price-to-earnings ratio of 59.99 and a beta of 0.39.

Institutional Trading of iShares BB Rated Corporate Bond ETF

Several hedge funds have recently added to or reduced their stakes in the business. Confluence Investment Management LLC lifted its holdings in shares of iShares BB Rated Corporate Bond ETF by 60.1% in the fourth quarter. Confluence Investment Management LLC now owns 433,506 shares of the company’s stock valued at $20,431,000 after purchasing an additional 162,677 shares in the last quarter. Commons Capital LLC bought a new stake in shares of iShares BB Rated Corporate Bond ETF in the fourth quarter worth $585,000. IFP Advisors Inc boosted its holdings in iShares BB Rated Corporate Bond ETF by 29.8% during the third quarter. IFP Advisors Inc now owns 1,298 shares of the company’s stock worth $61,000 after purchasing an additional 298 shares during the last quarter. Bank of America Corp DE grew its position in iShares BB Rated Corporate Bond ETF by 390.1% in the third quarter. Bank of America Corp DE now owns 16,625 shares of the company’s stock valued at $787,000 after purchasing an additional 13,233 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its position in iShares BB Rated Corporate Bond ETF by 3.9% during the 3rd quarter. Raymond James Financial Inc. now owns 11,406 shares of the company’s stock worth $540,000 after buying an additional 429 shares in the last quarter.

About iShares BB Rated Corporate Bond ETF

The iShares BB Rated Corporate Bond ETF (HYBB) is an exchange-traded fund that mostly invests in high yield fixed income. The fund tracks a market value-weighted index that only includes bonds with a credit rating of BB. HYBB was launched on Oct 6, 2020 and is managed by BlackRock.