Lorne Steinberg Wealth Management Inc. Sells 8,686 Shares of SPDR Bloomberg High Yield Bond ETF (NYSEARCA:JNK)

Lorne Steinberg Wealth Management Inc. lessened its stake in shares of SPDR Bloomberg High Yield Bond ETF (NYSEARCA:JNK) by 58.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,220 shares of the exchange traded fund’s stock after selling 8,686 shares during the quarter. Lorne Steinberg Wealth Management Inc.’s holdings in SPDR Bloomberg High Yield Bond ETF were worth $589,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Wetzel Investment Advisors Inc. purchased a new stake in SPDR Bloomberg High Yield Bond ETF in the fourth quarter worth $28,000. Clearstead Advisors LLC lifted its stake in SPDR Bloomberg High Yield Bond ETF by 862.1% in the third quarter. Clearstead Advisors LLC now owns 558 shares of the exchange traded fund’s stock worth $50,000 after acquiring an additional 500 shares during the period. WealthShield Partners LLC purchased a new position in SPDR Bloomberg High Yield Bond ETF during the fourth quarter valued at $55,000. Sandy Spring Bank purchased a new position in SPDR Bloomberg High Yield Bond ETF during the fourth quarter valued at $56,000. Finally, Provence Wealth Management Group purchased a new position in SPDR Bloomberg High Yield Bond ETF during the third quarter valued at $60,000. Hedge funds and other institutional investors own 87.54% of the company’s stock.

SPDR Bloomberg High Yield Bond ETF Stock Performance

SPDR Bloomberg High Yield Bond ETF stock traded down $0.28 on Wednesday, hitting $93.56. 2,951,570 shares of the stock traded hands, compared to its average volume of 5,449,788. The business’s fifty day simple moving average is $94.28 and its 200 day simple moving average is $93.20. SPDR Bloomberg High Yield Bond ETF has a 1 year low of $87.79 and a 1 year high of $95.59.

About SPDR Bloomberg High Yield Bond ETF

SPDR Barclays High Yield Bond ETF (the Fund), formerly SPDR Barclays Capital High Yield Bond ETF, seeks to provide investment results that correspond to the price and yield performance of the Barclays Capital High Yield Very Liquid Index (the Index). The Index includes publicly issued United States dollar denominated, non-investment grade, fixed-rate, taxable corporate bonds that have a remaining maturity of at least one year, regardless of optionality, are rated high-yield using the middle rating of Moody’s, S&P, and Fitch, respectively, and have $600 million or more of outstanding face value.