SPDR Portfolio Intermediate Term Corporate Bond ETF (NYSEARCA:SPIB) Short Interest Up 72.4% in August

SPDR Portfolio Intermediate Term Corporate Bond ETF (NYSEARCA:SPIB) saw a significant growth in short interest in the month of August. As of August 14th, there was short interest totaling 11,125,230 shares, a growth of 72.4% from the July 30th total of 6,454,019 shares. Based on an average daily volume of 6,200,787 shares, the days-to-cover ratio is currently 1.8 days. Approximately 3.2% of the shares of the company are sold short.

SPDR Portfolio Intermediate Term Corporate Bond ETF Trading Down 0.7%

NYSEARCA SPIB opened at $32.85 on Wednesday. The company has a 50 day moving average of $33.20 and a 200-day moving average of $33.44. SPDR Portfolio Intermediate Term Corporate Bond ETF has a 1-year low of $32.85 and a 1-year high of $34.14.

Hedge Funds Weigh In On SPDR Portfolio Intermediate Term Corporate Bond ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SPIB. Ameriprise Financial Inc. grew its holdings in shares of SPDR Portfolio Intermediate Term Corporate Bond ETF by 88.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,407,199 shares of the company’s stock worth $181,617,000 after purchasing an additional 2,537,710 shares in the last quarter. American Family Investments Inc. bought a new position in shares of SPDR Portfolio Intermediate Term Corporate Bond ETF in the second quarter worth $178,108,000. RMG Wealth Management LLC acquired a new position in SPDR Portfolio Intermediate Term Corporate Bond ETF in the first quarter valued at about $29,366,000. Bartlett & CO. Wealth Management LLC raised its stake in SPDR Portfolio Intermediate Term Corporate Bond ETF by 25.5% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 847,751 shares of the company’s stock valued at $28,408,000 after purchasing an additional 172,378 shares in the last quarter. Finally, Your Advocates Ltd. LLP lifted its position in SPDR Portfolio Intermediate Term Corporate Bond ETF by 9.0% during the first quarter. Your Advocates Ltd. LLP now owns 682,626 shares of the company’s stock worth $22,895,000 after purchasing an additional 56,649 shares during the period.

About SPDR Portfolio Intermediate Term Corporate Bond ETF

The SPDR Portfolio Intermediate Term Corporate Bond ETF (SPIB) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund tracks a market-value-weighted index of investment-grade, fixed-rate taxable US corporate bonds with a maturity of at least one year, but no more than 10 years. SPIB was launched on Feb 10, 2009 and is managed by State Street.