Schwab High Yield Bond ETF (NYSEARCA:SCYB) Sees Large Growth in Short Interest

Schwab High Yield Bond ETF (NYSEARCA:SCYB) was the recipient of a large increase in short interest in May. As of May 29th, there was short interest totaling 573,720 shares, an increase of 285.7% from the May 14th total of 148,732 shares. Based on an average daily trading volume, of 1,049,464 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.6% of the shares of the company are short sold.

Hedge Funds Weigh In On Schwab High Yield Bond ETF

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

Schwab High Yield Bond ETF Stock Performance

Shares of Schwab High Yield Bond ETF stock traded up $0.01 during mid-day trading on Friday, hitting $26.16. 989,158 shares of the stock were exchanged, compared to its average volume of 1,221,802. Schwab High Yield Bond ETF has a 12 month low of $25.70 and a 12 month high of $26.78. The company has a 50-day simple moving average of $26.18 and a 200 day simple moving average of $26.32. The company has a market capitalization of $2.43 billion, a P/E ratio of 60.28 and a beta of 0.27.

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.