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

SPDR Portfolio Long Term Corporate Bond ETF (NYSEARCA:SPLB)’s share price reached a new 52-week low during trading on Wednesday. The stock traded as low as $20.92 and last traded at $20.9550, with a volume of 1605883 shares. The stock had previously closed at $21.32.

SPDR Portfolio Long Term Corporate Bond ETF Trading Down 0.2%

The firm has a 50-day moving average of $21.38 and a two-hundred day moving average of $21.94.

Institutional Trading of SPDR Portfolio Long Term Corporate Bond ETF

Hedge funds have recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. boosted its stake in shares of SPDR Portfolio Long Term Corporate Bond ETF by 37.3% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 823,018 shares of the company’s stock worth $18,436,000 after acquiring an additional 223,646 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of SPDR Portfolio Long Term Corporate Bond ETF by 42.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 4,627,182 shares of the company’s stock valued at $103,649,000 after acquiring an additional 1,381,130 shares during the period. NewEdge Advisors LLC increased its stake in shares of SPDR Portfolio Long Term Corporate Bond ETF by 0.4% in the 2nd quarter. NewEdge Advisors LLC now owns 117,759 shares of the company’s stock valued at $2,638,000 after purchasing an additional 480 shares in the last quarter. Brown Lisle Cummings Inc. increased its stake in shares of SPDR Portfolio Long Term Corporate Bond ETF by 146.2% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 2,472 shares of the company’s stock valued at $55,000 after purchasing an additional 1,468 shares in the last quarter. Finally, Triumph Capital Management raised its holdings in SPDR Portfolio Long Term Corporate Bond ETF by 31.7% in the 2nd quarter. Triumph Capital Management now owns 3,913 shares of the company’s stock worth $88,000 after purchasing an additional 942 shares during the period.

About SPDR Portfolio Long Term Corporate Bond ETF

The SPDR Portfolio Long Term Corporate Bond ETF (SPLB) is an exchange-traded fund that is based on the Bloomberg Long U.S. Corporate index. The fund tracks an index of investment-grade, fixed-rate, taxable US corporate bonds with a remaining maturity of at least 10 years. SPLB was launched on Mar 10, 2009 and is managed by State Street.