BondBloxx BB Rated USD High Yield Corporate Bond ETF (NYSEARCA:XBB) Reaches New 52-Week Low – Time to Sell?

BondBloxx BB Rated USD High Yield Corporate Bond ETF (NYSEARCA:XBB)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $40.09 and last traded at $40.0990, with a volume of 2701 shares changing hands. The stock had previously closed at $40.26.

BondBloxx BB Rated USD High Yield Corporate Bond ETF Stock Performance

The business has a 50 day moving average of $40.58 and a two-hundred day moving average of $40.75. The stock has a market capitalization of $510.32 million, a PE ratio of 59.99 and a beta of 0.39.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of XBB. Potomac Fund Management Inc. ADV lifted its position in BondBloxx BB Rated USD High Yield Corporate Bond ETF by 16.9% during the fourth quarter. Potomac Fund Management Inc. ADV now owns 1,174,307 shares of the company’s stock valued at $48,316,000 after acquiring an additional 169,347 shares during the last quarter. Lido Advisors LLC increased its position in shares of BondBloxx BB Rated USD High Yield Corporate Bond ETF by 22.8% in the 1st quarter. Lido Advisors LLC now owns 226,571 shares of the company’s stock valued at $9,219,000 after acquiring an additional 42,003 shares during the period. IFP Advisors Inc raised its stake in shares of BondBloxx BB Rated USD High Yield Corporate Bond ETF by 10.1% in the second quarter. IFP Advisors Inc now owns 78,747 shares of the company’s stock worth $3,228,000 after purchasing an additional 7,253 shares during the last quarter. 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 buying an additional 260 shares during the last quarter. Finally, Atwood & Palmer Inc. boosted its holdings in BondBloxx BB Rated USD High Yield Corporate Bond ETF by 1.4% in the second quarter. Atwood & Palmer Inc. now owns 507,082 shares of the company’s stock valued at $20,788,000 after purchasing an additional 7,067 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.