Short Interest in Schwab High Yield Bond ETF (NYSEARCA:SCYB) Declines By 47.1%

Schwab High Yield Bond ETF (NYSEARCA:SCYB) saw a large decline in short interest during the month of March. As of March 13th, there was short interest totaling 227,300 shares, a decline of 47.1% from the February 26th total of 429,927 shares. Currently, 0.3% of the shares of the company are sold short. Based on an average daily trading volume, of 1,424,166 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Investors Weigh In On Schwab High Yield Bond ETF

A number of hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. grew its holdings in Schwab High Yield Bond ETF by 344.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,014 shares of the company’s stock valued at $27,000 after purchasing an additional 786 shares during the period. AlphaCore Capital LLC purchased a new position in shares of Schwab High Yield Bond ETF during the 3rd quarter valued at $29,000. Kestra Advisory Services LLC bought a new position in shares of Schwab High Yield Bond ETF during the 4th quarter worth $33,000. Arax Advisory Partners purchased a new stake in Schwab High Yield Bond ETF in the 4th quarter worth about $39,000. Finally, Howe & Rusling Inc. raised its stake in Schwab High Yield Bond ETF by 367.1% in the 4th quarter. Howe & Rusling Inc. now owns 2,074 shares of the company’s stock valued at $55,000 after acquiring an additional 1,630 shares during the period.

Schwab High Yield Bond ETF Stock Performance

SCYB opened at $25.75 on Friday. Schwab High Yield Bond ETF has a fifty-two week low of $24.73 and a fifty-two week high of $26.78. The firm has a 50-day moving average of $26.34 and a 200 day moving average of $26.45. The firm has a market cap of $2.20 billion, a P/E ratio of 60.28 and a beta of 0.32.

Schwab High Yield Bond ETF Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Friday, March 6th. Stockholders of record on Monday, March 2nd were given a dividend of $0.1449 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date of this dividend was Monday, March 2nd.

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.