SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) Reaches New 52-Week Low – Here’s What Happened

SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $27.92 and last traded at $27.9150, with a volume of 109718 shares. The stock had previously closed at $28.15.

SPDR Portfolio Corporate Bond ETF Trading Down 1.0%

The business’s fifty day moving average price is $28.38 and its two-hundred day moving average price is $28.78.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Melone Private Wealth LLC boosted its holdings in SPDR Portfolio Corporate Bond ETF by 1.1% in the second quarter. Melone Private Wealth LLC now owns 169,598 shares of the company’s stock valued at $4,925,000 after purchasing an additional 1,792 shares during the last quarter. Hobart Private Capital LLC purchased a new position in shares of SPDR Portfolio Corporate Bond ETF during the 2nd quarter valued at about $8,935,000. Western Wealth Management LLC purchased a new stake in shares of SPDR Portfolio Corporate Bond ETF in the first quarter worth about $142,000. Summit Financial Wealth Advisors LLC grew its holdings in SPDR Portfolio Corporate Bond ETF by 9.6% during the first quarter. Summit Financial Wealth Advisors LLC now owns 1,126,788 shares of the company’s stock worth $32,711,000 after acquiring an additional 99,072 shares during the period. Finally, Strategic Investment Advisors MI grew its holdings in SPDR Portfolio Corporate Bond ETF by 60.9% during the first quarter. Strategic Investment Advisors MI now owns 53,190 shares of the company’s stock worth $1,542,000 after acquiring an additional 20,139 shares during the period.

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.