The short interest in the AB Short Duration High Yield ETF (NYSEARCA:SYFI) significantly declined in December, as reported on December 15, 2023. Total short interest fell to 30,982 shares, marking a decrease of 22.6% from the previous total of 40,013 shares on November 30. This change indicates a shift in investor sentiment, with the short-interest ratio currently at 0.4 days based on an average daily trading volume of 78,437 shares. Approximately 0.1% of the ETF’s shares are now sold short.
In related trading activity, shares of SYFI experienced a minor decline of 0.6%, dropping to $35.89 during Wednesday’s trading session. The ETF recorded a trading volume of 72,735 shares, lower than its average volume of 134,216. Over the past year, the stock has fluctuated between a low of $33.50 and a high of $36.29, with a 50-day moving average price of $35.91 and a 200-day average of $35.93.
Institutional Investment Trends
Recent shifts in institutional trading have seen a number of hedge funds adjusting their positions in SYFI. Notably, NewEdge Advisors LLC increased its stake by 1.9% in the third quarter, now holding 700,621 shares valued at approximately $25.3 million after acquiring an additional 13,385 shares.
In a more substantial move, Citadel Advisors LLC raised its investment by a striking 208.4%, bringing its total to 81,393 shares worth around $2.94 million after purchasing an extra 55,001 shares. Similarly, Bank of America Corp DE enhanced its holdings by 7.9%, totaling 1,658,210 shares valued at $59.91 million following the acquisition of 121,176 shares.
Other institutional investors have also made notable adjustments. Raymond James Financial Inc. increased its holdings by 2.5%, now owning 755,666 shares valued at $27.3 million. Solano Wealth Investment Advisors LLC boosted its position by 2.2%, acquiring an additional 8,084 shares to reach a total of 378,760 shares valued at approximately $13.68 million.
About the AB Short Duration High Yield ETF
The AB Short Duration High Yield ETF (SYFI) is designed primarily for investors seeking exposure to high-yield fixed income assets. Launched on December 7, 2011, the fund actively manages a portfolio of global fixed income securities, mainly focusing on those with below investment-grade ratings. SYFI aims to maintain a dollar-weighted average portfolio duration of under four years, reflecting its strategy to mitigate interest rate risk while providing income.
As the market evolves, the movements of SYFI and its associated short interest provide valuable insights into investor sentiment and institutional strategies.
