iShares 0-5 Year High Yield Corporate Bond ETF (NYSEARCA:SHYG) Short Interest Up 246.7% in August

iShares 0-5 Year High Yield Corporate Bond ETF (NYSEARCA:SHYG) saw a significant increase in short interest in the month of August. As of August 14th, there was short interest totaling 943,881 shares, an increase of 246.7% from the July 30th total of 272,211 shares. Approximately 0.5% of the shares of the company are sold short. Based on an average trading volume of 1,376,601 shares, the days-to-cover ratio is currently 0.7 days.

iShares 0-5 Year High Yield Corporate Bond ETF Stock Performance

Shares of NYSEARCA SHYG traded down $0.07 during midday trading on Friday, reaching $42.26. The company’s stock had a trading volume of 581,385 shares, compared to its average volume of 1,553,141. The company has a market cap of $7.64 billion, a P/E ratio of 10.74 and a beta of 0.28. The business’s 50 day moving average price is $42.22 and its two-hundred day moving average price is $42.37. iShares 0-5 Year High Yield Corporate Bond ETF has a fifty-two week low of $41.83 and a fifty-two week high of $43.39.

Institutional Investors Weigh In On iShares 0-5 Year High Yield Corporate Bond ETF

Several hedge funds have recently modified their holdings of SHYG. Bank of New York Mellon Corp grew its stake in shares of iShares 0-5 Year High Yield Corporate Bond ETF by 31.0% in the first quarter. Bank of New York Mellon Corp now owns 1,149,340 shares of the company’s stock worth $48,629,000 after purchasing an additional 272,163 shares during the last quarter. Financial Gravity Asset Management Inc. grew its stake in iShares 0-5 Year High Yield Corporate Bond ETF by 7.4% in the 4th quarter. Financial Gravity Asset Management Inc. now owns 526,684 shares of the company’s stock valued at $22,579,000 after purchasing an additional 36,272 shares during the period. Loomis Sayles & Co. L P increased its position in iShares 0-5 Year High Yield Corporate Bond ETF by 22.1% in the fourth quarter. Loomis Sayles & Co. L P now owns 466,000 shares of the company’s stock worth $19,977,000 after buying an additional 84,500 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of iShares 0-5 Year High Yield Corporate Bond ETF by 8.7% in the third quarter. Ameriprise Financial Inc. now owns 432,109 shares of the company’s stock valued at $18,710,000 after purchasing an additional 34,416 shares during the period. Finally, Legacy Financial Group LLC lifted its position in shares of iShares 0-5 Year High Yield Corporate Bond ETF by 62.7% during the fourth quarter. Legacy Financial Group LLC now owns 417,113 shares of the company’s stock worth $17,836,000 after acquiring an additional 160,814 shares in the last quarter.

About iShares 0-5 Year High Yield Corporate Bond ETF

The iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) is an exchange-traded fund that mostly invests in high yield fixed income. The fund tracks a market-value-weighted index of high-yield USD-denominated bonds with 0-5 years remaining in maturity. SHYG was launched on Oct 15, 2013 and is managed by BlackRock.