SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) Hits New 52-Week Low – Here’s Why

Shares of SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) reached a new 52-week low on Monday . The company traded as low as $28.37 and last traded at $28.37, with a volume of 256602 shares traded. The stock had previously closed at $28.51.

SPDR Portfolio Corporate Bond ETF Stock Up 0.3%

The business’s 50 day moving average is $28.76 and its 200-day moving average is $29.04.

Institutional Investors Weigh In On SPDR Portfolio Corporate Bond ETF

Several hedge funds and other institutional investors have recently modified their holdings of SPBO. Bank of America Corp DE lifted its position in shares of SPDR Portfolio Corporate Bond ETF by 2.7% during the second quarter. Bank of America Corp DE now owns 2,702,160 shares of the company’s stock worth $78,957,000 after purchasing an additional 71,447 shares during the last quarter. Corient Private Wealth LLC raised its stake in SPDR Portfolio Corporate Bond ETF by 100.0% during the second quarter. Corient Private Wealth LLC now owns 63,644 shares of the company’s stock valued at $1,860,000 after buying an additional 31,822 shares in the last quarter. Private Advisor Group LLC raised its stake in SPDR Portfolio Corporate Bond ETF by 2.6% during the third quarter. Private Advisor Group LLC now owns 142,935 shares of the company’s stock valued at $4,235,000 after buying an additional 3,558 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in SPDR Portfolio Corporate Bond ETF by 15.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 7,339,315 shares of the company’s stock worth $217,450,000 after buying an additional 988,964 shares during the last quarter. Finally, Flow Traders U.S. LLC bought a new position in SPDR Portfolio Corporate Bond ETF during the 3rd quarter worth approximately $390,000.

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.