Short Interest in Schwab High Yield Bond ETF (NYSEARCA:SCYB) Declines By 53.4%

Schwab High Yield Bond ETF (NYSEARCA:SCYB) saw a significant drop in short interest during the month of May. As of May 15th, there was short interest totaling 148,732 shares, a drop of 53.4% from the April 30th total of 319,333 shares. Based on an average trading volume of 1,057,778 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.2% of the company’s shares are short sold.

Schwab High Yield Bond ETF Stock Performance

Shares of SCYB traded down $0.18 during mid-day trading on Monday, reaching $26.13. 1,514,793 shares of the company were exchanged, compared to its average volume of 1,187,665. Schwab High Yield Bond ETF has a 52 week low of $25.70 and a 52 week high of $26.78. The stock has a market capitalization of $2.42 billion, a PE ratio of 60.28 and a beta of 0.28. The business has a 50 day simple moving average of $26.15 and a two-hundred day simple moving average of $26.33.

Hedge Funds Weigh In On Schwab High Yield Bond ETF

A number of hedge funds have recently made changes to their positions in SCYB. Tidal Investments LLC raised its position in shares of Schwab High Yield Bond ETF by 65.6% during the second quarter. Tidal Investments LLC now owns 1,647,085 shares of the company’s stock worth $43,450,000 after acquiring an additional 652,496 shares during the last quarter. Cornerstone Enterprises LLC bought a new position in shares of Schwab High Yield Bond ETF during the fourth quarter worth about $15,389,000. Dahring Cusmano LLC bought a new position in shares of Schwab High Yield Bond ETF during the third quarter worth about $7,451,000. Summit Financial LLC bought a new position in shares of Schwab High Yield Bond ETF during the fourth quarter worth about $3,450,000. Finally, Orion Porfolio Solutions LLC bought a new position in shares of Schwab High Yield Bond ETF during the third quarter worth about $3,256,000.

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.