Short Interest in iShares iBoxx $ High Yield Corporate Bond ETF (NYSEARCA:HYG) Drops By 26.0%

iShares iBoxx $ High Yield Corporate Bond ETF (NYSEARCA:HYG) saw a large decline in short interest in the month of April. As of April 15th, there was short interest totalling 61,512,396 shares, a decline of 26.0% from the March 29th total of 83,167,200 shares. Based on an average daily volume of 16,237,245 shares, the days-to-cover ratio is presently 3.8 days.

Several large investors have recently added to or reduced their stakes in the stock. Horizon Investments LLC raised its stake in shares of iShares iBoxx $ High Yield Corporate Bond ETF by 38.8% during the 1st quarter. Horizon Investments LLC now owns 21,615 shares of the exchange traded fund’s stock valued at $1,853,000 after purchasing an additional 6,045 shares during the period. Merit Financial Group LLC bought a new position in iShares iBoxx $ High Yield Corporate Bond ETF in the 1st quarter worth about $220,000. Baker Avenue Asset Management LP increased its stake in iShares iBoxx $ High Yield Corporate Bond ETF by 2.4% in the 1st quarter. Baker Avenue Asset Management LP now owns 84,294 shares of the exchange traded fund’s stock worth $7,288,000 after acquiring an additional 1,979 shares during the last quarter. Almanack Investment Partners LLC. increased its stake in iShares iBoxx $ High Yield Corporate Bond ETF by 27.1% in the 1st quarter. Almanack Investment Partners LLC. now owns 3,743 shares of the exchange traded fund’s stock worth $324,000 after acquiring an additional 797 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its stake in iShares iBoxx $ High Yield Corporate Bond ETF by 20.8% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 3,780 shares of the exchange traded fund’s stock worth $327,000 after acquiring an additional 651 shares during the last quarter.

Shares of NYSEARCA:HYG traded down $0.03 during midday trading on Friday, reaching $85.94. 27,064,340 shares of the company traded hands, compared to its average volume of 21,113,439. iShares iBoxx $ High Yield Corporate Bond ETF has a 12 month low of $79.55 and a 12 month high of $87.04.

The business also recently disclosed a monthly dividend, which was paid on Tuesday, May 7th. Investors of record on Thursday, May 2nd were paid a dividend of $0.3664 per share. The ex-dividend date was Wednesday, May 1st. This represents a $4.40 dividend on an annualized basis and a dividend yield of 5.12%.

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About iShares iBoxx $ High Yield Corporate Bond ETF

iShares iBoxx $ High Yield Corporate Bond ETF (the Fund), formerly iShares iBoxx $ High Yield Corporate Bond Fund, is an exchange-traded fund (ETF). The Fund seeks to track the investment results of the Markit iBoxx USD Liquid High Yield Index (the Index), which is a rules-based index consisting of liquid the United States dollar-denominated, high yield corporate bonds for sale in the United States, as determined by the index provider.

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