iShares iBoxx $ High Yield Corporate Bond ETF (NYSEARCA:HYG) Sees Large Growth in Short Interest

iShares iBoxx $ High Yield Corporate Bond ETF (NYSEARCA:HYG) was the target of a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 150,209,099 shares, a growth of 47.5% from the February 26th total of 101,815,053 shares. Currently, 67.3% of the shares of the stock are short sold. Based on an average trading volume of 76,662,046 shares, the days-to-cover ratio is currently 2.0 days.

iShares iBoxx $ High Yield Corporate Bond ETF Stock Performance

HYG traded down $0.20 during trading on Friday, reaching $78.72. The company had a trading volume of 68,171,065 shares, compared to its average volume of 50,738,219. iShares iBoxx $ High Yield Corporate Bond ETF has a 12-month low of $75.08 and a 12-month high of $81.36. The firm’s 50-day simple moving average is $80.39 and its 200 day simple moving average is $80.61. The company has a market cap of $17.57 billion, a price-to-earnings ratio of 10.79 and a beta of 0.41.

Hedge Funds Weigh In On iShares iBoxx $ High Yield Corporate Bond ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Elyxium Wealth LLC acquired a new stake in shares of iShares iBoxx $ High Yield Corporate Bond ETF in the fourth quarter worth $32,000. Triumph Capital Management purchased a new stake in iShares iBoxx $ High Yield Corporate Bond ETF in the 3rd quarter worth about $38,000. High Point Wealth Management LLC purchased a new stake in iShares iBoxx $ High Yield Corporate Bond ETF in the 4th quarter worth about $38,000. Root Financial Partners LLC acquired a new stake in iShares iBoxx $ High Yield Corporate Bond ETF during the 3rd quarter worth about $40,000. Finally, First PREMIER Bank boosted its position in iShares iBoxx $ High Yield Corporate Bond ETF by 12,840.0% during the 3rd quarter. First PREMIER Bank now owns 647 shares of the exchange traded fund’s stock worth $53,000 after acquiring an additional 642 shares during the period.

About iShares iBoxx $ High Yield Corporate Bond ETF

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.