Short Interest in iShares iBoxx $ High Yield Corporate Bond ETF (NYSEARCA:HYG) Drops By 23.3%

iShares iBoxx $ High Yield Corporate Bond ETF (NYSEARCA:HYG) was the recipient of a large drop in short interest in the month of December. As of December 15th, there was short interest totaling 65,017,227 shares, a drop of 23.3% from the November 30th total of 84,792,370 shares. Based on an average daily volume of 39,115,341 shares, the short-interest ratio is presently 1.7 days. Approximately 27.5% of the company’s shares are sold short. Approximately 27.5% of the company’s shares are sold short. Based on an average daily volume of 39,115,341 shares, the short-interest ratio is presently 1.7 days.

iShares iBoxx $ High Yield Corporate Bond ETF Price Performance

HYG stock traded down $0.08 during trading on Wednesday, reaching $80.63. The company had a trading volume of 17,405,398 shares, compared to its average volume of 40,562,391. The business has a 50 day moving average of $80.59 and a 200 day moving average of $80.54. The company has a market cap of $19.08 billion, a P/E ratio of 10.79 and a beta of 0.41. iShares iBoxx $ High Yield Corporate Bond ETF has a 52 week low of $75.08 and a 52 week high of $81.36.

Hedge Funds Weigh In On iShares iBoxx $ High Yield Corporate Bond ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Baird Financial Group Inc. increased its stake in shares of iShares iBoxx $ High Yield Corporate Bond ETF by 25.2% in the 1st quarter. Baird Financial Group Inc. now owns 83,727 shares of the exchange traded fund’s stock worth $6,605,000 after acquiring an additional 16,855 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of iShares iBoxx $ High Yield Corporate Bond ETF by 130.8% during the first quarter. NewEdge Advisors LLC now owns 17,128 shares of the exchange traded fund’s stock valued at $1,351,000 after purchasing an additional 9,708 shares in the last quarter. Tolleson Wealth Management Inc. lifted its holdings in shares of iShares iBoxx $ High Yield Corporate Bond ETF by 6.8% during the first quarter. Tolleson Wealth Management Inc. now owns 6,272 shares of the exchange traded fund’s stock valued at $495,000 after purchasing an additional 397 shares during the last quarter. Belpointe Asset Management LLC boosted its position in shares of iShares iBoxx $ High Yield Corporate Bond ETF by 4.7% in the 1st quarter. Belpointe Asset Management LLC now owns 26,645 shares of the exchange traded fund’s stock worth $2,102,000 after purchasing an additional 1,185 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of iShares iBoxx $ High Yield Corporate Bond ETF by 23.9% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,179 shares of the exchange traded fund’s stock worth $337,000 after purchasing an additional 805 shares in the last quarter.

iShares iBoxx $ High Yield Corporate Bond ETF Company Profile

iShares iBoxx $ High Yield Corporate Bond ETF (the Fund), formerly iShares iBoxx $ High Yield Corporate Bond Fund, is an exchange-traded fund (ETF). The Fund seeks to track the investment results of the Markit iBoxx USD Liquid High Yield Index (the Index), which is a rules-based index consisting of liquid the United States dollar-denominated, high yield corporate bonds for sale in the United States, as determined by the index provider. The Index may include large-, mid- or small-capitalization companies, and components primarily include consumer services, financial, industrials, and oil and gas companies.