Short Interest in BNY Mellon High Yield ETF (NYSEARCA:BKHY) Drops By 32.6%

BNY Mellon High Yield ETF (NYSEARCA:BKHY) was the recipient of a significant drop in short interest in July. As of July 15th, there was short interest totaling 17,002 shares, a drop of 32.6% from the June 30th total of 25,237 shares. Based on an average daily volume of 13,830 shares, the days-to-cover ratio is presently 1.2 days. Currently, 0.5% of the shares of the stock are sold short.

BNY Mellon High Yield ETF Price Performance

Shares of NYSEARCA:BKHY opened at $47.21 on Friday. BNY Mellon High Yield ETF has a 52 week low of $46.84 and a 52 week high of $48.89. The firm has a fifty day simple moving average of $47.42 and a two-hundred day simple moving average of $47.67.

Hedge Funds Weigh In On BNY Mellon High Yield ETF

Hedge funds have recently added to or reduced their stakes in the company. Beacon Capital Management Inc. grew its position in BNY Mellon High Yield ETF by 308.5% in the 4th quarter. Beacon Capital Management Inc. now owns 719 shares of the company’s stock valued at $35,000 after acquiring an additional 543 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in BNY Mellon High Yield ETF during the 4th quarter valued at about $39,000. Aptus Capital Advisors LLC purchased a new position in BNY Mellon High Yield ETF during the third quarter valued at approximately $41,000. Fifth Third Securities Inc. bought a new position in shares of BNY Mellon High Yield ETF in the 4th quarter worth $225,000. Finally, Captrust Financial Advisors bought a new position in BNY Mellon High Yield ETF in the second quarter worth about $251,000.

BNY Mellon High Yield ETF Company Profile

The BNY Mellon High Yield Beta ETF (BKHY) is an exchange-traded fund that mostly invests in high yield fixed income. The fund tracks a market value-weighted index of USD-denominated high yield corporate bonds with broad maturities. BKHY was launched on Apr 24, 2020 and is managed by BNY Mellon.