iShares iBoxx $ High Yid Corp Bond (NYSEARCA:HYG) Sees Large Growth in Short Interest

iShares iBoxx $ High Yid Corp Bond (NYSEARCA:HYG) was the recipient of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 51,557,411 shares, an increase of 9.1% from the October 13th total of 47,257,974 shares. Based on an average daily volume of 8,712,593 shares, the days-to-cover ratio is currently 5.9 days.

Shares of iShares iBoxx $ High Yid Corp Bond (NYSEARCA:HYG) traded down $0.05 on Tuesday, reaching $87.30. 9,347,645 shares of the company’s stock were exchanged, compared to its average volume of 10,915,084. iShares iBoxx $ High Yid Corp Bond has a 1 year low of $85.65 and a 1 year high of $89.04.

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, December 7th. Stockholders of record on Monday, December 4th will be given a $0.3723 dividend. This represents a $4.47 dividend on an annualized basis and a dividend yield of 5.12%. The ex-dividend date is Friday, December 1st. This is a positive change from iShares iBoxx $ High Yid Corp Bond’s previous monthly dividend of $0.37. iShares iBoxx $ High Yid Corp Bond’s payout ratio is currently 105.26%.

Hedge funds have recently made changes to their positions in the company. Alken Asset Management Ltd. bought a new stake in iShares iBoxx $ High Yid Corp Bond during the second quarter worth $126,000. Kohmann Bosshard Financial Services LLC bought a new stake in iShares iBoxx $ High Yid Corp Bond during the third quarter worth $135,000. Capital Advisors Ltd. LLC raised its position in iShares iBoxx $ High Yid Corp Bond by 5.2% during the second quarter. Capital Advisors Ltd. LLC now owns 1,727 shares of the exchange traded fund’s stock worth $153,000 after acquiring an additional 85 shares in the last quarter. Wealthcare Advisory Partners LLC bought a new stake in iShares iBoxx $ High Yid Corp Bond during the third quarter worth $163,000. Finally, Forward Management LLC bought a new stake in iShares iBoxx $ High Yid Corp Bond during the second quarter worth $191,000.

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About iShares iBoxx $ High Yid Corp Bond

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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