Confluence Investment Management LLC Has $36.09 Million Stock Position in iShares BB Rated Corporate Bond ETF (NYSEARCA:HYBB)

Confluence Investment Management LLC cut its position in iShares BB Rated Corporate Bond ETF (NYSEARCA:HYBB) by 17.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 762,116 shares of the company’s stock after selling 156,323 shares during the period. Confluence Investment Management LLC owned 9.13% of iShares BB Rated Corporate Bond ETF worth $36,086,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. CENTRAL TRUST Co acquired a new stake in shares of iShares BB Rated Corporate Bond ETF in the third quarter valued at $46,000. Tocqueville Asset Management L.P. acquired a new stake in iShares BB Rated Corporate Bond ETF in the 1st quarter valued at about $398,000. Cetera Advisors LLC raised its stake in shares of iShares BB Rated Corporate Bond ETF by 32.8% in the first quarter. Cetera Advisors LLC now owns 9,940 shares of the company’s stock worth $460,000 after acquiring an additional 2,455 shares during the last quarter. Heritage Family Offices LLP acquired a new position in shares of iShares BB Rated Corporate Bond ETF during the second quarter worth approximately $462,000. Finally, Fiduciary Financial Group LLC bought a new stake in shares of iShares BB Rated Corporate Bond ETF during the second quarter valued at approximately $466,000.

iShares BB Rated Corporate Bond ETF Price Performance

Shares of iShares BB Rated Corporate Bond ETF stock opened at $46.67 on Friday. The firm has a 50 day simple moving average of $46.87 and a 200 day simple moving average of $46.39. iShares BB Rated Corporate Bond ETF has a fifty-two week low of $44.04 and a fifty-two week high of $47.42. The firm has a market cap of $389.66 million, a P/E ratio of 59.99 and a beta of 0.32.

iShares BB Rated Corporate Bond ETF Company Profile

The iShares BB Rated Corporate Bond ETF (HYBB) is an exchange-traded fund that mostly invests in high yield fixed income. The fund tracks a market value-weighted index that only includes bonds with a credit rating of BB. HYBB was launched on Oct 6, 2020 and is managed by BlackRock.