The BondBloxx USD High Yield Bond Telecom, Media & Technology Sector ETF (NYSEARCA:XHYT) experienced a significant reduction in short interest during February. As of February 13th, short interest stood at just 119 shares, marking a staggering decline of 72.8% from the 438 shares reported on January 29th. This translates to approximately 0.0% of the ETF”s total stock being sold short, indicating a notable shift in investor sentiment.
With an average daily trading volume of 1,409 shares, the current short-interest ratio is a mere 0.1 days. This low ratio suggests that traders may be less inclined to bet against the ETF, reflecting a potential confidence in its performance moving forward.
On the trading front, XHYT saw a slight uptick of 0.1% on Thursday, reaching a price of $34.34. Only 23 shares exchanged hands, which is relatively low compared to its average volume of 3,801 shares. The ETF currently boasts a market capitalization of $51.51 million, a price-to-earnings ratio of 4.06, and a beta value of 0.49. Over the last year, XHYT has seen a low of $32.85 and a high of $36.47, with its fifty-day simple moving average positioned at $34.58 and the 200-day simple moving average at $34.80.
In addition, the fund recently announced a monthly dividend, which was distributed on February 5th. Shareholders of record as of February 2nd received a dividend of $0.2124. The dividend represents an annualized yield of 7.4%, though the firm has recently cut these dividends.
Launched on February 15, 2022, the BondBloxx USD High Yield Bond Telecom, Media & Technology Sector ETF primarily invests in high-yield fixed income. The ETF tracks a modified market value-weighted index of USD-denominated high-yield corporate bonds issued by companies within the telecommunications, media, and technology sectors. This unique focus positions it as a compelling option for investors looking to gain exposure to these dynamic industries.
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