Principal Financial Group Inc. Decreases Stake in SPDR Portfolio High Yield Bond ETF $SPHY

Principal Financial Group Inc. lessened its position in shares of SPDR Portfolio High Yield Bond ETF (NYSEARCA:SPHY) by 49.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,088,550 shares of the company’s stock after selling 1,057,530 shares during the quarter. Principal Financial Group Inc.’s holdings in SPDR Portfolio High Yield Bond ETF were worth $26,060,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Auour Investments LLC raised its position in SPDR Portfolio High Yield Bond ETF by 207.7% during the third quarter. Auour Investments LLC now owns 70,906 shares of the company’s stock valued at $1,697,000 after purchasing an additional 47,862 shares during the period. GatePass Capital LLC boosted its holdings in shares of SPDR Portfolio High Yield Bond ETF by 189.9% in the 3rd quarter. GatePass Capital LLC now owns 58,550 shares of the company’s stock worth $1,402,000 after purchasing an additional 38,350 shares during the period. Commonwealth Equity Services LLC increased its position in shares of SPDR Portfolio High Yield Bond ETF by 116.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 284,302 shares of the company’s stock valued at $6,806,000 after purchasing an additional 153,035 shares during the last quarter. Concurrent Investment Advisors LLC raised its holdings in SPDR Portfolio High Yield Bond ETF by 378.6% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 125,699 shares of the company’s stock valued at $3,009,000 after buying an additional 99,433 shares during the period. Finally, DT Investment Partners LLC raised its holdings in SPDR Portfolio High Yield Bond ETF by 5.4% during the 3rd quarter. DT Investment Partners LLC now owns 462,620 shares of the company’s stock valued at $11,075,000 after buying an additional 23,589 shares during the period.

SPDR Portfolio High Yield Bond ETF Stock Up 0.3%

NYSEARCA SPHY opened at $23.71 on Friday. The company has a fifty day moving average of $23.72 and a two-hundred day moving average of $23.75. The firm has a market capitalization of $10.48 billion, a price-to-earnings ratio of 7.31 and a beta of 0.39. SPDR Portfolio High Yield Bond ETF has a 52 week low of $22.21 and a 52 week high of $23.99.

SPDR Portfolio High Yield Bond ETF Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Thursday, February 5th. Investors of record on Monday, February 2nd were paid a dividend of $0.1379 per share. The ex-dividend date of this dividend was Monday, February 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 7.0%.

About SPDR Portfolio High Yield Bond ETF

The SPDR Portfolio High Yield Bond ETF (SPHY) is an exchange-traded fund that is based on the ICE BofA US High Yield index. The fund tracks an index that measures the performance of USD-denominated junk bonds. SPHY was launched on Jun 18, 2012 and is managed by State Street.