Schwab High Yield Bond ETF (NYSEARCA:SCYB) Sees Significant Growth in Short Interest

Schwab High Yield Bond ETF (NYSEARCA:SCYB) was the recipient of a large growth in short interest in May. As of May 29th, there was short interest totaling 573,720 shares, a growth of 285.7% from the May 14th total of 148,732 shares. Based on an average trading volume of 1,049,464 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.6% of the shares of the stock are short sold.

Institutional Investors Weigh In On Schwab High Yield Bond ETF

Hedge funds have recently modified their holdings of the company. Bank of America Corp DE boosted its stake 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 worth $1,838,000 after purchasing an additional 8,427 shares during the last quarter. Empowered Funds LLC boosted its stake 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 worth $1,831,000 after purchasing an additional 8,019 shares during the last quarter. Dahring Cusmano LLC boosted its stake 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 worth $9,006,000 after purchasing an additional 23,209 shares during the last quarter. Wealthgarden F.S. LLC acquired a new stake in shares of Schwab High Yield Bond ETF during the 1st quarter worth about $412,000. Finally, Carnegie Investment Counsel boosted its stake 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 worth $727,000 after purchasing an additional 3,514 shares during the last quarter.

Schwab High Yield Bond ETF Stock Performance

NYSEARCA:SCYB traded up $0.13 during mid-day trading on Thursday, hitting $26.15. 2,002,560 shares of the company’s stock traded hands, compared to its average volume of 1,223,870. The firm’s 50 day simple moving average is $26.18 and its 200 day simple moving average is $26.32. Schwab High Yield Bond ETF has a 1 year low of $25.70 and a 1 year high of $26.78. The company has a market cap of $2.43 billion, a PE ratio of 60.28 and a beta of 0.27.

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.