iShares Broad USD High Yield Corporate Bond ETF (BATS:USHY) Hits New 1-Year Low – What’s Next?

iShares Broad USD High Yield Corporate Bond ETF (BATS:USHY) shares reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $36.39 and last traded at $36.3850, with a volume of 10281211 shares trading hands. The stock had previously closed at $36.53.

iShares Broad USD High Yield Corporate Bond ETF Stock Performance

The firm has a market capitalization of $22.89 billion, a price-to-earnings ratio of 10.79 and a beta of 0.41. The business has a fifty day moving average of $36.80 and a two-hundred day moving average of $36.93.

Hedge Funds Weigh In On iShares Broad USD High Yield Corporate Bond ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its stake in iShares Broad USD High Yield Corporate Bond ETF by 56.0% in the fourth quarter. JPMorgan Chase & Co. now owns 11,904,449 shares of the company’s stock valued at $445,167,000 after purchasing an additional 4,272,229 shares in the last quarter. TIAA Trust National Association increased its holdings in iShares Broad USD High Yield Corporate Bond ETF by 4.3% in the 4th quarter. TIAA Trust National Association now owns 9,768,912 shares of the company’s stock valued at $365,532,000 after buying an additional 403,934 shares during the period. Bank of New York Mellon Corp raised its position in shares of iShares Broad USD High Yield Corporate Bond ETF by 7.2% in the 4th quarter. Bank of New York Mellon Corp now owns 2,396,151 shares of the company’s stock valued at $89,604,000 after buying an additional 160,258 shares in the last quarter. One Capital Management LLC raised its position in shares of iShares Broad USD High Yield Corporate Bond ETF by 11.1% in the 4th quarter. One Capital Management LLC now owns 2,341,985 shares of the company’s stock valued at $87,579,000 after buying an additional 234,803 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in shares of iShares Broad USD High Yield Corporate Bond ETF by 5,219.9% during the 1st quarter. Venturi Wealth Management LLC now owns 1,316,148 shares of the company’s stock worth $48,487,000 after acquiring an additional 1,291,408 shares during the period.

About iShares Broad USD High Yield Corporate Bond ETF

The iShares Broad USD High Yield Corporate Bond ETF (USHY) is an exchange-traded fund that is based on the ICE BofA US High Yield Constrained index. The fund tracks a market value-weighted index of USD-denominated high yield corporate debt with broad maturities. USHY was launched on Oct 25, 2017 and is managed by BlackRock.