Farther Finance Advisors LLC Reduces Stake in High Yield Bond ETF

Farther Finance Advisors LLC, in a move indicative of its latest portfolio adjustments, has decreased its investment in the iShares iBoxx $ High Yield Corporate Bond ETF (NYSEARCA:HYG), a popular exchange-traded fund that focuses on high-yield corporate bonds. In the form 13F filing with the Securities and Exchange Commission (SEC) for the second quarter, the firm showed a 2.2% reduction in its HYG holdings, having sold 135 shares. Post-transaction, Farther Finance Advisors LLC's stake in the ETF amounted to 5,964 shares, totaling an estimated value of $448,000 at the time of the filing.

Other Investors' Activity

Notably, Farther Finance Advisors LLC was not alone in adjusting its positions in the high yield fund. Several key investors have also reported changes. For instance, Fairfield Bush & CO. jumped in with an acquisition of HYG shares worth $118,000 during the first quarter. Likewise, Baird Financial Group Inc. slightly increased its stake by 0.9%, bringing its total to 130,396 shares. Additional investments were noted from Covestor Ltd, which upped its share count by 89.8%, and Flow Traders U.S. LLC, which initiated a sizeable new position. Nations Financial Group Inc. IA ADV notably increased its holding by a substantial 125.8% in the same period.

HYG's Market Performance

The iShares iBoxx $ High Yield Corporate Bond ETF has been on a path of fluctuation, with HYG opening at $77.14 on the reported day of trading. Its metrics show varied performance, including a fifty-day moving average at $74.07 and a 200-day moving average at $74.40. The ETF has seen its low and high over the past year at $71.68 and $77.34, respectively. These figures contribute to a market capitalization of $15.47 billion, along with a price-to-earnings ratio of 9.33 and a beta of 0.43.

About iShares iBoxx $ High Yield Corporate Bond ETF

The iShares iBoxx $ High Yield Corporate Bond ETF targets to mimic the performance of the Markit iBoxx USD Liquid High Yield Index, which is composed of liquid, USD-denominated high yield corporate bonds available in the U.S. market. As an ETF, it allows investors to gain exposure to a diversified mix of high-yielding corporate debt securities through a single investment product.

iShares, HYG, ETF, Bonds, Investment, Finance, Securities, Market, Advisors, Portfolio