Envestnet Asset Management Inc. Boosts Stake in AB High Yield ETF $HYFI

Envestnet Asset Management Inc. lifted its holdings in AB High Yield ETF (NYSEARCA:HYFI) by 116.2% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 211,267 shares of the company’s stock after buying an additional 113,570 shares during the period. Envestnet Asset Management Inc. owned approximately 2.71% of AB High Yield ETF worth $8,019,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. TFB Advisors LLC bought a new position in AB High Yield ETF in the 3rd quarter valued at $208,000. Truist Financial Corp purchased a new position in shares of AB High Yield ETF in the 3rd quarter worth about $986,000. Platform Technology Partners grew its position in AB High Yield ETF by 7.1% during the third quarter. Platform Technology Partners now owns 24,933 shares of the company’s stock valued at $946,000 after buying an additional 1,645 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in AB High Yield ETF by 17.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 134,240 shares of the company’s stock valued at $5,062,000 after buying an additional 20,416 shares during the period. Finally, Advisory Resource Group purchased a new stake in AB High Yield ETF during the third quarter worth about $4,599,000.

AB High Yield ETF Stock Up 0.1%

Shares of HYFI stock opened at $37.77 on Friday. AB High Yield ETF has a 52 week low of $34.74 and a 52 week high of $40.14. The firm’s 50-day simple moving average is $37.76 and its two-hundred day simple moving average is $37.72.

AB High Yield ETF Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Thursday, February 5th. Investors of record on Monday, February 2nd were paid a $0.2113 dividend. The ex-dividend date was Monday, February 2nd. This represents a c) annualized dividend and a yield of 6.7%.

AB High Yield ETF Profile

The AB High Yield ETF (HYFI) is an exchange-traded fund that mostly invests in high yield fixed income. The fund is an actively managed fund of fixed income securities with high-yield credit rating and various maturities from corporate issuers around the world. Constituents are selected using a combination of quantitative and fundamental research, as well as both top-down and bottom-up analysis. HYFI was launched on May 15, 2023 and is managed by AB Funds.