Short Interest in Schwab High Yield Bond ETF (NYSEARCA:SCYB) Declines By 54.9%

Schwab High Yield Bond ETF (NYSEARCA:SCYB) saw a significant drop in short interest in the month of July. As of July 15th, there was short interest totaling 78,925 shares, a drop of 54.9% from the June 30th total of 174,991 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily trading volume, of 1,235,066 shares, the days-to-cover ratio is presently 0.1 days.

Hedge Funds Weigh In On Schwab High Yield Bond ETF

A number of large investors have recently added to or reduced their stakes in SCYB. Charles Schwab Trust Co boosted its holdings in shares of Schwab High Yield Bond ETF by 0.8% in the 2nd quarter. Charles Schwab Trust Co now owns 509,261 shares of the company’s stock valued at $13,332,000 after buying an additional 3,814 shares in the last quarter. IFC & Insurance Marketing Inc. raised its stake in shares of Schwab High Yield Bond ETF by 14.0% during the 2nd quarter. IFC & Insurance Marketing Inc. now owns 87,241 shares of the company’s stock worth $2,284,000 after acquiring an additional 10,714 shares in the last quarter. MFG Wealth Management Inc. raised its stake in shares of Schwab High Yield Bond ETF by 7.7% during the 2nd quarter. MFG Wealth Management Inc. now owns 150,197 shares of the company’s stock worth $3,932,000 after acquiring an additional 10,739 shares in the last quarter. Integral Investment Advisors Inc. lifted its position in Schwab High Yield Bond ETF by 38.9% during the second quarter. Integral Investment Advisors Inc. now owns 22,729 shares of the company’s stock valued at $595,000 after acquiring an additional 6,363 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in Schwab High Yield Bond ETF by 13.5% during the first quarter. Bank of America Corp DE now owns 70,710 shares of the company’s stock valued at $1,838,000 after acquiring an additional 8,427 shares during the last quarter.

Schwab High Yield Bond ETF Price Performance

NYSEARCA SCYB traded down $0.05 during midday trading on Wednesday, hitting $25.91. 791,436 shares of the company traded hands, compared to its average volume of 1,216,816. The company has a market cap of $2.72 billion, a PE ratio of 60.28 and a beta of 0.27. The company’s 50-day simple moving average is $26.11 and its 200-day simple moving average is $26.23. Schwab High Yield Bond ETF has a 52 week low of $25.70 and a 52 week 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.