IFC & Insurance Marketing Inc. Invests $1.99 Million in Schwab High Yield Bond ETF $SCYB

IFC & Insurance Marketing Inc. bought a new stake in shares of Schwab High Yield Bond ETF (NYSEARCA:SCYB) during the 1st quarter, Holdings Channel.com reports. The institutional investor bought 76,527 shares of the company’s stock, valued at approximately $1,990,000. Schwab High Yield Bond ETF makes up approximately 2.1% of IFC & Insurance Marketing Inc.’s portfolio, making the stock its 14th biggest holding.

A number of other institutional investors have also recently made changes to their positions in SCYB. Northwestern Mutual Wealth Management Co. grew its position in Schwab High Yield Bond ETF by 344.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,014 shares of the company’s stock worth $27,000 after acquiring an additional 786 shares in the last quarter. AlphaCore Capital LLC bought a new stake in Schwab High Yield Bond ETF during the third quarter worth approximately $29,000. Kestra Advisory Services LLC purchased a new stake in Schwab High Yield Bond ETF during the fourth quarter valued at approximately $33,000. Arax Advisory Partners purchased a new stake in Schwab High Yield Bond ETF during the fourth quarter valued at approximately $39,000. Finally, Howe & Rusling Inc. lifted its stake in shares of Schwab High Yield Bond ETF by 367.1% in the 4th quarter. Howe & Rusling Inc. now owns 2,074 shares of the company’s stock valued at $55,000 after purchasing an additional 1,630 shares during the last quarter.

Schwab High Yield Bond ETF Price Performance

NYSEARCA:SCYB opened at $26.17 on Tuesday. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of 60.28 and a beta of 0.27. The business has a 50 day simple moving average of $26.19 and a 200-day simple moving average of $26.30. Schwab High Yield Bond ETF has a 1 year low of $25.70 and a 1 year high of $26.78.

Schwab High Yield Bond ETF 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.