BondBloxx BB Rated USD High Yield Corporate Bond ETF (NYSEARCA:XBB) Hits New 12-Month High – Time to Buy?

Shares of BondBloxx BB Rated USD High Yield Corporate Bond ETF (NYSEARCA:XBB) hit a new 52-week high during trading on Wednesday . The company traded as high as $42.99 and last traded at $42.99, with a volume of 439 shares trading hands. The stock had previously closed at $40.65.

BondBloxx BB Rated USD High Yield Corporate Bond ETF Price Performance

The company has a fifty day moving average price of $40.77 and a two-hundred day moving average price of $40.90. The company has a market capitalization of $520.46 million, a P/E ratio of 59.99 and a beta of 0.39.

Institutional Investors Weigh In On BondBloxx BB Rated USD High Yield Corporate Bond ETF

Institutional investors have recently added to or reduced their stakes in the business. Atwood & Palmer Inc. raised its stake in shares of BondBloxx BB Rated USD High Yield Corporate Bond ETF by 1.4% during the second quarter. Atwood & Palmer Inc. now owns 507,082 shares of the company’s stock valued at $20,788,000 after acquiring an additional 7,067 shares during the last quarter. GK Wealth Management LLC acquired a new stake in BondBloxx BB Rated USD High Yield Corporate Bond ETF in the second quarter valued at $284,000. CGN Advisors LLC increased its holdings in BondBloxx BB Rated USD High Yield Corporate Bond ETF by 6.5% in the second quarter. CGN Advisors LLC now owns 14,534 shares of the company’s stock valued at $596,000 after purchasing an additional 885 shares during the period. Lido Advisors LLC raised its position in BondBloxx BB Rated USD High Yield Corporate Bond ETF by 22.8% during the 1st quarter. Lido Advisors LLC now owns 226,571 shares of the company’s stock worth $9,219,000 after purchasing an additional 42,003 shares during the last quarter. Finally, Cetera Investment Advisers raised its position in BondBloxx BB Rated USD High Yield Corporate Bond ETF by 1.2% during the 1st quarter. Cetera Investment Advisers now owns 21,953 shares of the company’s stock worth $893,000 after purchasing an additional 260 shares during the last quarter.

About BondBloxx BB Rated USD High Yield Corporate Bond ETF

The BondBloxx BB Rated USD High Yield Corporate Bond ETF (XBB) is an exchange-traded fund that mostly invests in high yield fixed income. The fund tracks a market value-weighted index that specifically invests in USD-denominated corporate bonds with a credit rating of BB (or its equivalent), based on an average of three main credit rating providers. XBB was launched on May 24, 2022 and is managed by BondBloxx.