Schwab High Yield Bond ETF (NYSEARCA:SCYB) Sets New 12-Month Low – Should You Sell?

Schwab High Yield Bond ETF (NYSEARCA:SCYB) shares hit a new 52-week low during mid-day trading on Tuesday. The stock traded as low as $25.29 and last traded at $25.31, with a volume of 1723675 shares traded. The stock had previously closed at $25.43.

Schwab High Yield Bond ETF Trading Down 0.1%

The firm has a market capitalization of $2.79 billion, a P/E ratio of 60.28 and a beta of 0.27. The business’s fifty day moving average is $25.86 and its 200 day moving average is $26.03.

Institutional Investors Weigh In On Schwab High Yield Bond ETF

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Integrated Wealth Concepts LLC acquired a new stake in shares of Schwab High Yield Bond ETF during the second quarter worth $103,000. Compass Financial Management LLC purchased a new position in Schwab High Yield Bond ETF in the 2nd quarter worth about $150,000. Balboa Wealth Partners purchased a new position in Schwab High Yield Bond ETF in the 1st quarter worth about $212,000. Axis Wealth Partners LLC raised its holdings in Schwab High Yield Bond ETF by 13.1% during the 1st quarter. Axis Wealth Partners LLC now owns 8,669 shares of the company’s stock worth $225,000 after buying an additional 1,007 shares during the period. Finally, Burney Co. acquired a new stake in Schwab High Yield Bond ETF during the 1st quarter worth about $298,000.

Schwab High Yield Bond ETF Company Profile

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.