Schwab High Yield Bond ETF (NYSEARCA:SCYB) Reaches New 12-Month Low – Time to Sell?

Schwab High Yield Bond ETF (NYSEARCA:SCYB)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $25.70 and last traded at $25.7050, with a volume of 1165913 shares. The stock had previously closed at $25.83.

Schwab High Yield Bond ETF Stock Down 0.5%

The firm has a fifty day moving average price of $26.01 and a two-hundred day moving average price of $26.11. The stock has a market capitalization of $2.72 billion, a P/E ratio of 60.28 and a beta of 0.27.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted 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 acquiring an additional 786 shares during the last quarter. Kestra Advisory Services LLC bought a new position in Schwab High Yield Bond ETF during the 4th quarter valued at about $33,000. Arax Advisory Partners purchased a new stake in Schwab High Yield Bond ETF in the 4th quarter worth about $39,000. Howe & Rusling Inc. raised its position 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 worth $55,000 after purchasing an additional 1,630 shares during the period. Finally, Steward Partners Investment Advisory LLC bought a new stake in Schwab High Yield Bond ETF in the fourth quarter worth about $91,000.

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.