Investors Buy High Volume of Put Options on iShares iBoxx $ High Yield Corporate Bond ETF (NYSEARCA:HYG)

iShares iBoxx $ High Yield Corporate Bond ETF (NYSEARCA:HYG) saw unusually large options trading on Friday. Stock investors purchased 793,750 put options on the company. This represents an increase of 50% compared to the average volume of 528,810 put options.

iShares iBoxx $ High Yield Corporate Bond ETF Trading Down 0.9%

Shares of HYG stock opened at $78.92 on Friday. The firm has a market capitalization of $17.61 billion, a PE ratio of 10.79 and a beta of 0.41. The firm has a fifty day simple moving average of $80.58 and a two-hundred day simple moving average of $80.67. iShares iBoxx $ High Yield Corporate Bond ETF has a 12 month low of $75.08 and a 12 month high of $81.36.

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

Hedge funds and other institutional investors have recently made changes to their positions in the business. NewEdge Advisors LLC raised its holdings in shares of iShares iBoxx $ High Yield Corporate Bond ETF by 130.8% in the 1st quarter. NewEdge Advisors LLC now owns 17,128 shares of the exchange traded fund’s stock worth $1,351,000 after acquiring an additional 9,708 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in iShares iBoxx $ High Yield Corporate Bond ETF by 33.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 140,134 shares of the exchange traded fund’s stock worth $11,302,000 after purchasing an additional 34,857 shares in the last quarter. Western Wealth Management LLC purchased a new stake in shares of iShares iBoxx $ High Yield Corporate Bond ETF in the second quarter worth approximately $204,000. JPMorgan Chase & Co. raised its stake in shares of iShares iBoxx $ High Yield Corporate Bond ETF by 255.8% in the second quarter. JPMorgan Chase & Co. now owns 10,234,868 shares of the exchange traded fund’s stock worth $825,442,000 after purchasing an additional 7,358,059 shares during the last quarter. Finally, Baird Financial Group Inc. lifted its holdings in shares of iShares iBoxx $ High Yield Corporate Bond ETF by 23.1% in the second quarter. Baird Financial Group Inc. now owns 103,036 shares of the exchange traded fund’s stock valued at $8,310,000 after purchasing an additional 19,309 shares in the last quarter.

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.