SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) Sets New 12-Month Low – What’s Next?

SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) shares hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $28.40 and last traded at $28.41, with a volume of 112292 shares changing hands. The stock had previously closed at $28.50.

SPDR Portfolio Corporate Bond ETF Price Performance

The stock’s 50-day simple moving average is $28.85 and its 200 day simple moving average is $29.09.

Hedge Funds Weigh In On SPDR Portfolio Corporate Bond ETF

A number of hedge funds have recently made changes to their positions in SPBO. Northwestern Mutual Wealth Management Co. increased its holdings in SPDR Portfolio Corporate Bond ETF by 82.4% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 881 shares of the company’s stock worth $26,000 after purchasing an additional 398 shares during the period. Ritholtz Wealth Management raised its holdings in SPDR Portfolio Corporate Bond ETF by 0.6% in the fourth quarter. Ritholtz Wealth Management now owns 80,784 shares of the company’s stock valued at $2,370,000 after acquiring an additional 471 shares in the last quarter. Summit Financial LLC lifted its stake in SPDR Portfolio Corporate Bond ETF by 6.8% in the fourth quarter. Summit Financial LLC now owns 7,843 shares of the company’s stock worth $230,000 after acquiring an additional 497 shares during the last quarter. CreativeOne Wealth LLC lifted its stake in SPDR Portfolio Corporate Bond ETF by 1.9% in the fourth quarter. CreativeOne Wealth LLC now owns 27,628 shares of the company’s stock worth $811,000 after acquiring an additional 510 shares during the last quarter. Finally, Arrien Investments Inc. grew its holdings in SPDR Portfolio Corporate Bond ETF by 4.7% during the 1st quarter. Arrien Investments Inc. now owns 13,785 shares of the company’s stock worth $400,000 after acquiring an additional 617 shares in the last quarter.

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.