Short Interest in iShares iBoxx $ High Yield Corporate Bond ETF (NYSEARCA:HYG) Drops By 20.9%

iShares iBoxx $ High Yield Corporate Bond ETF (NYSEARCA:HYG) was the recipient of a large decrease in short interest in April. As of April 15th, there was short interest totaling 94,963,938 shares, a decrease of 20.9% from the March 31st total of 120,060,194 shares. Approximately 43.5% of the company’s stock are sold short. Based on an average trading volume of 47,318,362 shares, the short-interest ratio is currently 2.0 days.

iShares iBoxx $ High Yield Corporate Bond ETF Price Performance

iShares iBoxx $ High Yield Corporate Bond ETF stock traded down $0.32 during mid-day trading on Friday, hitting $80.06. The company’s stock had a trading volume of 43,690,612 shares, compared to its average volume of 49,726,855. The firm’s 50 day moving average is $80.00 and its 200 day moving average is $80.47. The company has a market cap of $16.93 billion, a PE ratio of 10.79 and a beta of 0.42. iShares iBoxx $ High Yield Corporate Bond ETF has a 52-week low of $78.32 and a 52-week high of $81.36.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of HYG. Allstate Corp increased its position in iShares iBoxx $ High Yield Corporate Bond ETF by 823.6% in the 3rd quarter. Allstate Corp now owns 3,083,249 shares of the exchange traded fund’s stock worth $250,329,000 after purchasing an additional 2,749,404 shares during the last quarter. Jump Financial LLC increased its position in iShares iBoxx $ High Yield Corporate Bond ETF by 335.3% in the 4th quarter. Jump Financial LLC now owns 720,900 shares of the exchange traded fund’s stock worth $58,126,000 after purchasing an additional 1,027,275 shares during the last quarter. Ameriprise Financial Inc. increased its position in iShares iBoxx $ High Yield Corporate Bond ETF by 18.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,818,659 shares of the exchange traded fund’s stock worth $147,320,000 after purchasing an additional 282,574 shares during the last quarter. Cullen Frost Bankers Inc. increased its position in iShares iBoxx $ High Yield Corporate Bond ETF by 142.5% in the 4th quarter. Cullen Frost Bankers Inc. now owns 420,126 shares of the exchange traded fund’s stock worth $33,875,000 after purchasing an additional 246,871 shares during the last quarter. Finally, iA Global Asset Management Inc. increased its position in iShares iBoxx $ High Yield Corporate Bond ETF by 16.8% in the 4th quarter. iA Global Asset Management Inc. now owns 1,300,125 shares of the exchange traded fund’s stock worth $104,829,000 after purchasing an additional 186,734 shares during the last quarter.

iShares iBoxx $ High Yield Corporate Bond ETF Company Profile

iShares iBoxx $ High Yield Corporate Bond ETF (the Fund), formerly iShares iBoxx $ High Yield Corporate Bond Fund, is an exchange-traded fund (ETF). The Fund seeks to track the investment results of the Markit iBoxx USD Liquid High Yield Index (the Index), which is a rules-based index consisting of liquid the United States dollar-denominated, high yield corporate bonds for sale in the United States, as determined by the index provider. The Index may include large-, mid- or small-capitalization companies, and components primarily include consumer services, financial, industrials, and oil and gas companies.