Short Interest in iShares High Yield Corporate Bond BuyWrite Strategy ETF (BATS:HYGW) Drops By 60.9%

iShares High Yield Corporate Bond BuyWrite Strategy ETF (BATS:HYGW) was the target of a significant drop in short interest in May. As of May 15th, there was short interest totaling 1,943 shares, a drop of 60.9% from the April 30th total of 4,967 shares. Based on an average daily trading volume, of 41,363 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.0% of the company’s stock are short sold.

iShares High Yield Corporate Bond BuyWrite Strategy ETF Price Performance

HYGW stock opened at $29.19 on Friday. The company has a fifty day moving average price of $29.17 and a two-hundred day moving average price of $29.63. iShares High Yield Corporate Bond BuyWrite Strategy ETF has a one year low of $28.84 and a one year high of $30.75. The stock has a market cap of $218.93 million, a price-to-earnings ratio of 10.56 and a beta of 0.24.

Hedge Funds Weigh In On iShares High Yield Corporate Bond BuyWrite Strategy ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HYGW. JPMorgan Chase & Co. boosted its position in iShares High Yield Corporate Bond BuyWrite Strategy ETF by 47.0% during the second quarter. JPMorgan Chase & Co. now owns 194,549 shares of the company’s stock worth $5,955,000 after purchasing an additional 62,234 shares during the period. Private Trust Co. NA boosted its position in iShares High Yield Corporate Bond BuyWrite Strategy ETF by 45.4% during the fourth quarter. Private Trust Co. NA now owns 2,104 shares of the company’s stock worth $63,000 after purchasing an additional 657 shares during the period. RiverFront Investment Group LLC boosted its position in iShares High Yield Corporate Bond BuyWrite Strategy ETF by 96.2% during the fourth quarter. RiverFront Investment Group LLC now owns 69,757 shares of the company’s stock worth $2,083,000 after purchasing an additional 34,201 shares during the period. Arkadios Wealth Advisors bought a new position in iShares High Yield Corporate Bond BuyWrite Strategy ETF during the fourth quarter worth $500,000. Finally, Arax Advisory Partners bought a new position in iShares High Yield Corporate Bond BuyWrite Strategy ETF during the fourth quarter worth $337,000.

About iShares High Yield Corporate Bond BuyWrite Strategy ETF

The iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW) is an exchange-traded fund that is based on the Cboe HYG BuyWrite index. The fund uses a fund-of-fund approach to passively track an index that measures the performance of holding shares of the iShares High Yield Corporate Bond ETF and writing one-month call options against the shares. HYGW was launched on Aug 18, 2022 and is managed by BlackRock.