AB High Yield ETF (NYSEARCA:HYFI) Trading 0.3% Higher – Time to Buy?

AB High Yield ETF (NYSEARCA:HYFI) traded up 0.3% on Thursday . The company traded as high as $37.40 and last traded at $37.32. Approximately 21,353 shares changed hands during trading, a decline of 40% from the average daily volume of 35,475 shares. The stock had previously closed at $37.22.

AB High Yield ETF Price Performance

The firm has a 50-day moving average price of $37.37 and a 200-day moving average price of $37.49.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. bought a new position in AB High Yield ETF during the 3rd quarter valued at about $66,000. NewEdge Advisors LLC increased its position in AB High Yield ETF by 6,057.8% in the fourth quarter. NewEdge Advisors LLC now owns 5,542 shares of the company’s stock worth $208,000 after buying an additional 5,452 shares in the last quarter. Fifth Third Bancorp purchased a new stake in AB High Yield ETF in the 1st quarter worth approximately $304,000. Comerica Bank raised its position in shares of AB High Yield ETF by 41.4% during the 3rd quarter. Comerica Bank now owns 8,243 shares of the company’s stock valued at $313,000 after purchasing an additional 2,415 shares during the period. Finally, Beto Financial Group LLC bought a new stake in AB High Yield ETF during the fourth quarter valued at about $424,000.

About AB High Yield ETF

The AB High Yield ETF (HYFI) is an exchange-traded fund that mostly invests in high yield fixed income. The fund is an actively managed fund of fixed income securities with high-yield credit rating and various maturities from corporate issuers around the world. Constituents are selected using a combination of quantitative and fundamental research, as well as both top-down and bottom-up analysis. HYFI was launched on May 15, 2023 and is managed by AB Funds.