SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) Reaches New 1-Year Low – What’s Next?

SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO)’s stock price reached a new 52-week low on Monday . The stock traded as low as $28.57 and last traded at $28.57, with a volume of 301136 shares trading hands. The stock had previously closed at $28.70.

SPDR Portfolio Corporate Bond ETF Stock Performance

The business has a 50 day moving average of $28.93 and a 200-day moving average of $29.16.

Institutional Investors Weigh In On SPDR Portfolio Corporate Bond ETF

Several institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. raised its stake in shares of SPDR Portfolio Corporate Bond ETF by 82.4% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 881 shares of the company’s stock valued at $26,000 after purchasing an additional 398 shares during the period. SHP Wealth Management acquired a new stake in SPDR Portfolio Corporate Bond ETF in the 4th quarter valued at approximately $38,000. Creative Capital Management Investments LLC bought a new stake in SPDR Portfolio Corporate Bond ETF in the 1st quarter valued at approximately $39,000. Advisory Services Network LLC acquired a new position in SPDR Portfolio Corporate Bond ETF during the 3rd quarter worth approximately $49,000. Finally, Eastern Bank bought a new position in shares of SPDR Portfolio Corporate Bond ETF during the 4th quarter worth approximately $53,000.

About SPDR Portfolio Corporate Bond ETF

The SPDR Portfolio Corporate Bond ETF (SPBO) is an exchange-traded fund that is based on the Bloomberg U.S. Corporate Bond index. The fund tracks an index of investment-grade US corporate bonds weighted in tiers by market value and issuer fundamentals. SPBO was launched on Apr 6, 2011 and is managed by State Street.