Schwab High Yield Bond ETF (NYSEARCA:SCYB) Short Interest Update

Schwab High Yield Bond ETF (NYSEARCA:SCYB) was the target of a significant increase in short interest during the month of June. As of June 30th, there was short interest totaling 174,991 shares, an increase of 835.0% from the June 15th total of 18,715 shares. Based on an average daily volume of 1,307,796 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.2% of the shares of the stock are sold short.

Institutional Investors Weigh In On Schwab High Yield Bond ETF

Several hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC boosted its holdings in shares of Schwab High Yield Bond ETF by 65.6% in the 2nd quarter. Tidal Investments LLC now owns 1,647,085 shares of the company’s stock worth $43,450,000 after purchasing an additional 652,496 shares in the last quarter. Cornerstone Enterprises LLC purchased a new position in shares of Schwab High Yield Bond ETF during the 4th quarter valued at about $15,389,000. Summit Financial LLC purchased a new position in shares of Schwab High Yield Bond ETF during the 4th quarter valued at about $3,450,000. IFC & Insurance Marketing Inc. bought a new stake in Schwab High Yield Bond ETF in the 1st quarter worth approximately $1,990,000. Finally, Elm3 Financial Group LLC bought a new stake in Schwab High Yield Bond ETF in the 4th quarter worth approximately $1,684,000.

Schwab High Yield Bond ETF Price Performance

SCYB stock traded down $0.03 during midday trading on Friday, reaching $26.07. The company had a trading volume of 1,115,352 shares, compared to its average volume of 1,228,727. The firm has a 50-day moving average price of $26.14 and a 200-day moving average price of $26.27. The company has a market capitalization of $2.66 billion, a P/E ratio of 60.28 and a beta of 0.27. Schwab High Yield Bond ETF has a 1 year low of $25.70 and a 1 year high of $26.78.

About Schwab High Yield Bond ETF

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.