iShares iBoxx $ High Yield Corporate Bond ETF (NYSEARCA:HYG) Stock Sees Heavy Put Option Buying

iShares iBoxx $ High Yield Corporate Bond ETF (NYSEARCA:HYG) was the recipient of some unusual options trading on Wednesday. Stock traders purchased 582,252 put options on the company. This represents an increase of 48% compared to the average daily volume of 392,730 put options.

iShares iBoxx $ High Yield Corporate Bond ETF Price Performance

HYG opened at $77.13 on Friday. iShares iBoxx $ High Yield Corporate Bond ETF has a 12 month low of $76.39 and a 12 month high of $81.33. The stock has a market capitalization of $17.90 billion, a price-to-earnings ratio of 10.79 and a beta of 0.41. The business has a fifty day moving average price of $78.59 and a 200 day moving average price of $79.40.

Institutional Investors Weigh In On iShares iBoxx $ High Yield Corporate Bond ETF

A number of hedge funds have recently bought and sold shares of HYG. Financial & Tax Architects LLC increased its stake in shares of iShares iBoxx $ High Yield Corporate Bond ETF by 1.8% during the third quarter. Financial & Tax Architects LLC now owns 51,976 shares of the exchange traded fund’s stock worth $4,013,000 after buying an additional 910 shares during the period. Ninety One UK Ltd purchased a new position in iShares iBoxx $ High Yield Corporate Bond ETF in the third quarter worth approximately $1,435,000. Nvwm LLC lifted its stake in iShares iBoxx $ High Yield Corporate Bond ETF by 182.5% in the third quarter. Nvwm LLC now owns 148,263 shares of the exchange traded fund’s stock worth $11,447,000 after acquiring an additional 95,782 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in iShares iBoxx $ High Yield Corporate Bond ETF in the third quarter worth approximately $27,000. Finally, Central Bank & Trust Co. acquired a new position in iShares iBoxx $ High Yield Corporate Bond ETF during the 3rd quarter worth approximately $4,578,000.

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.