Schwab High Yield Bond ETF (NYSEARCA:SCYB) Sets New 52-Week Low – What’s Next?

Shares of Schwab High Yield Bond ETF (NYSEARCA:SCYB) hit a new 52-week low during trading on Wednesday . The company traded as low as $25.60 and last traded at $25.6150, with a volume of 292970 shares. The stock had previously closed at $25.73.

Schwab High Yield Bond ETF Trading Down 0.7%

The business’s 50-day simple moving average is $25.94 and its two-hundred day simple moving average is $26.06. The company has a market capitalization of $2.71 billion, a PE ratio of 60.28 and a beta of 0.27.

Hedge Funds Weigh In On Schwab High Yield Bond ETF

Several institutional investors and hedge funds have recently made changes to their positions in the business. Integrated Wealth Concepts LLC acquired a new stake in shares of Schwab High Yield Bond ETF during the second quarter worth approximately $103,000. Compass Financial Management LLC acquired a new stake in Schwab High Yield Bond ETF in the second quarter valued at $150,000. Balboa Wealth Partners acquired a new position in Schwab High Yield Bond ETF during the 1st quarter worth $212,000. Axis Wealth Partners LLC grew its holdings in Schwab High Yield Bond ETF by 13.1% during the 1st quarter. Axis Wealth Partners LLC now owns 8,669 shares of the company’s stock worth $225,000 after acquiring an additional 1,007 shares in the last quarter. Finally, IFP Advisors Inc increased its position in shares of Schwab High Yield Bond ETF by 113.5% in the 4th quarter. IFP Advisors Inc now owns 11,048 shares of the company’s stock worth $292,000 after purchasing an additional 5,873 shares during the last quarter.

Schwab High Yield Bond ETF Company Profile

The Schwab High Yield Bond ETF (SCYB) is an exchange-traded fund that mostly invests in high yield fixed income. The fund tracks an index of USD-denominated high-yield, US corporate bonds, selected and weighted based on market value. SCYB was launched on Jul 11, 2023 and is managed by Charles Schwab.