The BondBloxx USD High Yield Bond Sector Rotation ETF (NYSEARCA:HYSA) experienced a notable decrease in short interest throughout December. By the end of the month, on December 31st, the total short interest had dropped to 3,255 shares, reflecting a significant decline of 52.9% from the 6,917 shares reported on December 15th.
This reduction in short interest suggests a shift in market sentiment, as evidenced by the short-interest ratio, which currently stands at 0.4 days based on an average daily trading volume of 9,259 shares. With only 0.2% of the ETF”s shares sold short, it indicates a relatively low level of bearish sentiment among investors.
Institutional participation in the BondBloxx USD High Yield Bond Sector Rotation ETF has also seen notable changes recently. In the second quarter, Jane Street Group LLC acquired a new stake valued at approximately $182,000. Meanwhile, Adams Wealth Management significantly increased its holdings by 916.6%, now owning 124,252 shares worth about $1,889,000 after purchasing an additional 112,030 shares.
CacheTech Inc. made an even larger move, boosting its position by 1,019.6% during the same quarter, resulting in ownership of 136,837 shares valued at $2,080,000 after adding 124,615 shares. Additionally, CWM LLC and Truist Financial Corp entered the fray, with CWM acquiring a new stake valued at $32,000, while Truist secured a new position worth $154,000 in the third quarter.
In terms of price performance, shares of HYSA have remained relatively stable, trading at $15.21 on the last Friday of the month. Approximately 1,383 shares changed hands, a figure below the average volume of 14,080. The ETF boasts a market capitalization of $32.25 million, a price-to-earnings ratio of 4.03, and a beta of 0.30. Over the past year, the ETF has seen a low of $14.17 and a high of $15.53, with its 50-day and 200-day moving averages positioned at $15.19 and $15.20, respectively.
The BondBloxx USD High Yield Bond Sector Rotation ETF, launched on September 18, 2023, is an actively managed fund that primarily invests in high-yield fixed income products, focusing on USD-denominated corporate bonds without bond maturity restrictions. It aims to provide diversified sector exposure and has quickly garnered attention in the investment community.
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