Investor Dumps Biggest Junk Bond ETFs as Market Sell-Off Deepens
- BlackRock’s HYG gets 2 block sales Thursday worth $676 million
- Trader also unloads $267 million worth of State Street’s JNK
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At least one investor just called it quits on the world’s two largest junk-bond ETFs.
A trader sold close to 4 million shares worth $322 million of the iShares iBoxx High Yield Corporate Bond ETF, ticker HYG, at 11:21 a.m. in New York Thursday. About five minutes later, 8 million shares worth $267 million of the SPDR Bloomberg Barclays High Yield Bond ETF, ticker JNK, were sold. Then, another $350 million worth of HYG was unloaded at 1:39 p.m.