The **Federated Hermes Short Duration High Yield ETF** (NYSEARCA: FHYS) experienced a significant decline in short interest during December 2023, diminishing by **46.2%** from the middle of the month. As of **December 31**, short interest totaled **7,850 shares**, down from **14,593 shares** on **December 15**. With an average daily trading volume of **11,965 shares**, this results in a short-interest ratio of just **0.7 days**, indicating a relatively low level of short selling activity.
Approximately **0.4%** of the company’s shares are currently short sold, reflecting a shift in investor sentiment toward the ETF. This change suggests that market participants may be more optimistic about the fund’s performance in the near term.
Institutional Investor Activity
Recent months have seen various institutional investors adjusting their positions in the **Federated Hermes Short Duration High Yield ETF**. Notably, **Creative Financial Designs Inc. ADV** established a new stake valued at approximately **$46,000** in the second quarter. Meanwhile, **Kestra Private Wealth Services LLC** acquired a new position in the third quarter, valued at about **$252,000**.
Significant activity was also noted from **Steward Partners Investment Advisory LLC**, which increased its holdings by an impressive **2,421.2%** during the second quarter. The firm now owns **10,841 shares**, worth about **$252,000**, after purchasing an additional **10,411 shares**. Furthermore, **Envestnet Asset Management Inc.** raised its stake by **2.7%** in the third quarter, thereby holding **25,394 shares** valued at **$591,000** after acquiring an additional **670 shares**.
**DAVENPORT & Co LLC** also reported a **5.5%** increase in its position during the third quarter, bringing their total shares to **27,862**, valued at **$648,000** after acquiring an additional **1,459 shares**.
Market Performance Overview
On the trading front, **FHYS** saw a slight increase of **$0.01**, reaching a price of **$23.36** on the last trading day. During this period, **16,756 shares** changed hands, which is below its average volume of **31,196 shares**. The ETF’s **50-day moving average** stands at **$23.32**, while its **200-day moving average** is **$23.27**. Over the past year, the ETF has fluctuated between a low of **$22.10** and a high of **$23.47**.
The **Federated Hermes Short Duration High Yield ETF** primarily invests in high-yield fixed income securities. The fund focuses on generating high current income through the active management of short-term, U.S. dollar-denominated corporate debt that is rated below investment-grade. Launched on **December 16, 2021**, the ETF is managed by **Federated Hermes**, which has established a reputation for its expertise in managing fixed income investments.
As investors continue to navigate the evolving market landscape, the recent changes in short interest and institutional investments in FHYS could signal shifting strategies among market participants.
