BondBloxx Bloomberg One Year Target Duration US Treasury ETF (NYSEARCA:XONE) Sees Unusually-High Trading Volume – Still a Buy?

BondBloxx Bloomberg One Year Target Duration US Treasury ETF (NYSEARCA:XONE) shares saw strong trading volume on Wednesday. Approximately 179,268 shares changed hands during mid-day trading, an increase of 47% from the average daily volume of 122,145 shares. The stock last traded at $49.0950 and had previously closed at $49.12.

BondBloxx Bloomberg One Year Target Duration US Treasury ETF Trading Down 0.1%

The firm has a market cap of $864.56 million, a price-to-earnings ratio of -52.23 and a beta of 0.01. The company’s 50-day moving average is $49.17 and its 200-day moving average is $49.35.

Hedge Funds Weigh In On BondBloxx Bloomberg One Year Target Duration US Treasury ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tanager Wealth Management LLP lifted its stake in shares of BondBloxx Bloomberg One Year Target Duration US Treasury ETF by 69.4% in the 2nd quarter. Tanager Wealth Management LLP now owns 943,490 shares of the company’s stock valued at $46,580,000 after acquiring an additional 386,502 shares during the last quarter. S&A Financial Services Inc. bought a new stake in shares of BondBloxx Bloomberg One Year Target Duration US Treasury ETF during the 1st quarter valued at about $4,823,000. Empowered Funds LLC increased its stake in BondBloxx Bloomberg One Year Target Duration US Treasury ETF by 12.8% in the first quarter. Empowered Funds LLC now owns 174,600 shares of the company’s stock valued at $8,622,000 after purchasing an additional 19,800 shares in the last quarter. Bank of America Corp DE grew its position in BondBloxx Bloomberg One Year Target Duration US Treasury ETF by 4.9% in the 1st quarter. Bank of America Corp DE now owns 2,002,123 shares of the company’s stock valued at $99,145,000 after purchasing an additional 93,806 shares during the period. Finally, Royal Bank of Canada increased its holdings in BondBloxx Bloomberg One Year Target Duration US Treasury ETF by 543.1% during the 1st quarter. Royal Bank of Canada now owns 17,370 shares of the company’s stock worth $860,000 after purchasing an additional 14,669 shares in the last quarter. Institutional investors own 47.99% of the company’s stock.

About BondBloxx Bloomberg One Year Target Duration US Treasury ETF

The Bondbloxx Bloomberg One Year Target Duration US Treasury ETF (XONE) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is passively managed to invest in a portfolio of US Treasury securities with a target duration of one year. XONE was launched on Sep 13, 2022 and is managed by BondBloxx.