Short Interest in BNY Mellon High Yield ETF (NYSEARCA:BKHY) Expands By 173.0%

BNY Mellon High Yield ETF (NYSEARCA:BKHY) was the target of a large growth in short interest during the month of May. As of May 15th, there was short interest totaling 35,095 shares, a growth of 173.0% from the April 30th total of 12,856 shares. Currently, 1.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 14,893 shares, the days-to-cover ratio is currently 2.4 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Beacon Capital Management Inc. raised its stake in shares of BNY Mellon High Yield ETF by 308.5% during the 4th quarter. Beacon Capital Management Inc. now owns 719 shares of the company’s stock worth $35,000 after buying an additional 543 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in BNY Mellon High Yield ETF in the 4th quarter valued at about $39,000. Aptus Capital Advisors LLC acquired a new position in BNY Mellon High Yield ETF in the 3rd quarter valued at about $41,000. Fifth Third Securities Inc. acquired a new position in BNY Mellon High Yield ETF in the 4th quarter valued at about $225,000. Finally, Captrust Financial Advisors acquired a new position in BNY Mellon High Yield ETF in the 2nd quarter valued at about $251,000.

BNY Mellon High Yield ETF Trading Up 0.2%

Shares of NYSEARCA:BKHY traded up $0.08 during midday trading on Friday, hitting $47.77. 16,912 shares of the stock were exchanged, compared to its average volume of 71,805. BNY Mellon High Yield ETF has a twelve month low of $46.84 and a twelve month high of $48.89. The company has a 50 day moving average price of $47.50 and a 200-day moving average price of $47.93.

BNY Mellon High Yield ETF Company Profile

The BNY Mellon High Yield Beta ETF (BKHY) is an exchange-traded fund that mostly invests in high yield fixed income. The fund tracks a market value-weighted index of USD-denominated high yield corporate bonds with broad maturities. BKHY was launched on Apr 24, 2020 and is managed by BNY Mellon.