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

Schwab High Yield Bond ETF (NYSEARCA:SCYB) was the recipient of a large decline in short interest in the month of March. As of March 13th, there was short interest totaling 227,300 shares, a decline of 47.1% from the February 26th total of 429,927 shares. Approximately 0.3% of the company’s shares are short sold. Based on an average daily trading volume, of 1,424,166 shares, the days-to-cover ratio is presently 0.2 days.

Schwab High Yield Bond ETF Trading Down 0.7%

Shares of SCYB stock opened at $25.81 on Friday. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of 60.28 and a beta of 0.32. The stock has a 50-day moving average of $26.35 and a 200-day moving average of $26.46. Schwab High Yield Bond ETF has a 1-year low of $24.73 and a 1-year high of $26.78.

Schwab High Yield Bond ETF Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Friday, March 6th. Shareholders of record on Monday, March 2nd were given a dividend of $0.1449 per share. This represents a c) dividend on an annualized basis and a yield of 6.7%. The ex-dividend date of this dividend was Monday, March 2nd.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Strategic Financial Planning Inc. acquired a new stake in shares of Schwab High Yield Bond ETF during the second quarter worth $5,706,000. JT Stratford LLC lifted its holdings in Schwab High Yield Bond ETF by 4.0% in the second quarter. JT Stratford LLC now owns 43,540 shares of the company’s stock valued at $1,156,000 after buying an additional 1,681 shares during the period. Flow Traders U.S. LLC acquired a new position in Schwab High Yield Bond ETF in the second quarter valued at $350,000. L2 Asset Management LLC boosted its position in Schwab High Yield Bond ETF by 5.6% during the second quarter. L2 Asset Management LLC now owns 188,111 shares of the company’s stock valued at $4,992,000 after acquiring an additional 9,892 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in Schwab High Yield Bond ETF by 419.3% during the second quarter. Bank of America Corp DE now owns 52,007 shares of the company’s stock valued at $1,380,000 after acquiring an additional 41,992 shares during 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.