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

Schwab High Yield Bond ETF (NYSEARCA:SCYB) was the recipient of a significant drop in short interest in September. As of September 15th, there was short interest totaling 17,615 shares, a drop of 91.0% from the August 31st total of 195,975 shares. Based on an average daily trading volume, of 1,101,303 shares, the short-interest ratio is presently 0.0 days. Currently, 0.0% of the company’s stock are sold short.

Schwab High Yield Bond ETF Price Performance

Shares of NYSEARCA SCYB traded down $0.07 during mid-day trading on Friday, reaching $25.39. 918,297 shares of the company’s stock traded hands, compared to its average volume of 1,154,833. The business has a 50-day simple moving average of $25.91 and a 200 day simple moving average of $26.05. The stock has a market cap of $2.81 billion, a P/E ratio of 60.28 and a beta of 0.27. Schwab High Yield Bond ETF has a 1-year low of $25.37 and a 1-year high of $26.74.

Hedge Funds Weigh In On Schwab High Yield Bond ETF

A number of hedge funds have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC purchased a new stake in shares of Schwab High Yield Bond ETF in the second quarter worth approximately $103,000. Compass Financial Management LLC purchased a new position in shares of Schwab High Yield Bond ETF during the second quarter valued at approximately $150,000. Balboa Wealth Partners purchased a new position in shares of Schwab High Yield Bond ETF during the first quarter valued at approximately $212,000. Axis Wealth Partners LLC grew its holdings in Schwab High Yield Bond ETF by 13.1% during the first quarter. Axis Wealth Partners LLC now owns 8,669 shares of the company’s stock worth $225,000 after buying an additional 1,007 shares in the last quarter. Finally, IFP Advisors Inc lifted its stake in Schwab High Yield Bond ETF by 113.5% during the 4th quarter. IFP Advisors Inc now owns 11,048 shares of the company’s stock valued at $292,000 after acquiring an additional 5,873 shares in the last quarter.

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.