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Yesterday Someone Traded $600 Million Of High Yield Funds: (JNK) - (HYG)

TedTed
in Fund Discussions
FYI: It looks like an investor has just traded a massive amount of high yield exchange-traded funds as three block trades worth more than $609 million hit the tape yesterday around 12:30 p.m. in New York.

The $9.1 billion SPDR Bloomberg Barclays high Yield Bond ETF, known by its ticker JNK, absorbed two block trades of about 9.7 million shares worth over $350 million, according to Bloomberg data. The $15.3 billion iShares iBoxx $ High Yield Corporate Bond ETF, or HYG, saw a trade of about 3 million shares worth $257 million, the data show.
Regards,
Ted
https://www.bloomberg.com/news/articles/2018-04-12/someone-just-traded-600-million-of-high-yield-funds-etf-watch?srnd=etfcenter

Comments

  • beebee
    "The allocation back into high yield is a vote of confidence for risk-on bets," Lukeman said...Thanks @Junkster.
  • JunksterJunkster
    bee said:

    "The allocation back into high yield is a vote of confidence for risk-on bets," Lukeman said...Thanks @Junkster.

    The past month junk has shown some real positive divergence with equities. While the S@P is down over 4% and the NASDAQ almost 6%, the proxy index for junk bonds is positive. With all the volatility in equities, I just can’t bring myself to get back into junk in a meaningful way. If I succumb it will be with the Ivy High yield fund. Standing pat with junk lite in bank loan with EIFAX. Besides IOFIX I did buy some DPFNX which I held for a few months last year. It is mischaracterized by Morninstar in the junk bond category.
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