Schwab High Yield Bond ETF (NYSEARCA:SCYB) Short Interest Down 53.4% in May

Schwab High Yield Bond ETF (NYSEARCA:SCYB) saw a significant drop in short interest in May. As of May 15th, there was short interest totaling 148,732 shares, a drop of 53.4% from the April 30th total of 319,333 shares. Based on an average daily trading volume, of 1,057,778 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.2% of the shares of the stock are short sold.

Schwab High Yield Bond ETF Trading Up 0.2%

Shares of Schwab High Yield Bond ETF stock traded up $0.05 during midday trading on Friday, reaching $26.31. The company had a trading volume of 1,766,645 shares, compared to its average volume of 1,184,435. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 60.28 and a beta of 0.28. The stock has a fifty day simple moving average of $26.14 and a 200 day simple moving average of $26.33. Schwab High Yield Bond ETF has a 1-year low of $25.70 and a 1-year high of $26.78.

Institutional Trading of Schwab High Yield Bond ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Schwab High Yield Bond ETF by 344.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,014 shares of the company’s stock valued at $27,000 after purchasing an additional 786 shares in the last quarter. AlphaCore Capital LLC acquired a new stake in Schwab High Yield Bond ETF in the third quarter worth about $29,000. Kestra Advisory Services LLC acquired a new stake in Schwab High Yield Bond ETF in the fourth quarter worth about $33,000. Arax Advisory Partners acquired a new stake in Schwab High Yield Bond ETF in the fourth quarter worth about $39,000. Finally, Howe & Rusling Inc. increased its position in Schwab High Yield Bond ETF by 367.1% in the fourth 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.

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.