Schwab High Yield Bond ETF (NYSEARCA:SCYB) Short Interest Up 88.3% in April

Schwab High Yield Bond ETF (NYSEARCA:SCYB) was the target of a significant growth in short interest in April. As of April 30th, there was short interest totaling 319,333 shares, a growth of 88.3% from the April 15th total of 169,570 shares. Based on an average daily trading volume, of 1,105,288 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.3% of the shares of the stock are short sold.

Schwab High Yield Bond ETF Price Performance

Shares of NYSEARCA:SCYB traded down $0.05 during midday trading on Tuesday, hitting $25.98. The company had a trading volume of 669,286 shares, compared to its average volume of 1,187,987. Schwab High Yield Bond ETF has a twelve month low of $25.70 and a twelve month high of $26.78. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of 60.28 and a beta of 0.28. The business’s 50-day simple moving average is $26.13 and its 200-day simple moving average is $26.35.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE boosted its position in shares of Schwab High Yield Bond ETF by 13.5% during the 1st quarter. Bank of America Corp DE now owns 70,710 shares of the company’s stock valued at $1,838,000 after acquiring an additional 8,427 shares during the last quarter. Empowered Funds LLC boosted its position in shares of Schwab High Yield Bond ETF by 12.8% during the 1st quarter. Empowered Funds LLC now owns 70,823 shares of the company’s stock valued at $1,831,000 after acquiring an additional 8,019 shares during the last quarter. Dahring Cusmano LLC boosted its position in shares of Schwab High Yield Bond ETF by 7.2% during the 1st quarter. Dahring Cusmano LLC now owns 346,378 shares of the company’s stock valued at $9,006,000 after acquiring an additional 23,209 shares during the last quarter. Wealthgarden F.S. LLC acquired a new position in shares of Schwab High Yield Bond ETF during the 1st quarter valued at about $412,000. Finally, Carnegie Investment Counsel boosted its position in shares of Schwab High Yield Bond ETF by 14.4% during the 1st quarter. Carnegie Investment Counsel now owns 27,963 shares of the company’s stock valued at $727,000 after acquiring an additional 3,514 shares during the last quarter.

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.