Federated Hermes Short Duration High Yield ETF (NYSEARCA:FHYS) Sees Significant Decline in Short Interest

Federated Hermes Short Duration High Yield ETF (NYSEARCA:FHYS) was the recipient of a large drop in short interest in October. As of October 15th, there was short interest totaling 14,548 shares, a drop of 47.6% from the September 30th total of 27,766 shares. Based on an average trading volume of 61,436 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.5% of the company’s stock are short sold.

Federated Hermes Short Duration High Yield ETF Stock Performance

Shares of NYSEARCA FHYS traded down $0.13 during midday trading on Friday, reaching $22.58. 16,271 shares of the company were exchanged, compared to its average volume of 24,044. Federated Hermes Short Duration High Yield ETF has a 1 year low of $22.36 and a 1 year high of $23.47. The stock has a fifty day simple moving average of $22.75 and a 200 day simple moving average of $23.03.

Hedge Funds Weigh In On Federated Hermes Short Duration High Yield ETF

Several hedge funds and other institutional investors have recently bought and sold shares of FHYS. Provenance Wealth Advisors LLC acquired a new position in shares of Federated Hermes Short Duration High Yield ETF during the 3rd quarter worth $32,000. Envestnet Asset Management Inc. grew its stake in Federated Hermes Short Duration High Yield ETF by 15.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 43,708 shares of the company’s stock valued at $1,007,000 after acquiring an additional 5,838 shares during the last quarter. NewEdge Advisors LLC increased its holdings in Federated Hermes Short Duration High Yield ETF by 63.8% during the 2nd quarter. NewEdge Advisors LLC now owns 21,950 shares of the company’s stock valued at $506,000 after acquiring an additional 8,550 shares in the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in Federated Hermes Short Duration High Yield ETF during the 1st quarter valued at about $45,000. Finally, Janney Montgomery Scott LLC purchased a new position in Federated Hermes Short Duration High Yield ETF during the 1st quarter valued at about $203,000.

Federated Hermes Short Duration High Yield ETF Company Profile

The Federated Hermes Short Duration High Yield ETF (FHYS) is an exchange-traded fund that mostly invests in high yield fixed income. The fund seeks high current income through the active management of short-term US dollar-denominated corporate debt securities that are rated below investment-grade. FHYS was launched on Dec 16, 2021 and is managed by Federated Hermes.