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

SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) hit a new 52-week low during trading on Wednesday . The company traded as low as $28.17 and last traded at $28.1850, with a volume of 86434 shares trading hands. The stock had previously closed at $28.24.

SPDR Portfolio Corporate Bond ETF Trading Down 0.7%

The company’s fifty day simple moving average is $28.49 and its two-hundred day simple moving average is $28.86.

Institutional Investors Weigh In On SPDR Portfolio Corporate Bond ETF

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Ameriprise Financial Inc. increased its position in SPDR Portfolio Corporate Bond ETF by 15.6% during the third quarter. Ameriprise Financial Inc. now owns 7,339,315 shares of the company’s stock worth $217,450,000 after buying an additional 988,964 shares in the last quarter. LPL Financial LLC boosted its stake in shares of SPDR Portfolio Corporate Bond ETF by 3.4% during the fourth quarter. LPL Financial LLC now owns 3,029,120 shares of the company’s stock valued at $88,874,000 after acquiring an additional 100,339 shares during the last quarter. Bank of America Corp DE increased its position in SPDR Portfolio Corporate Bond ETF by 0.9% during the 3rd quarter. Bank of America Corp DE now owns 2,727,109 shares of the company’s stock worth $80,804,000 after purchasing an additional 24,949 shares in the last quarter. Assetmark Inc. increased its position in SPDR Portfolio Corporate Bond ETF by 47.0% during the 1st quarter. Assetmark Inc. now owns 2,170,235 shares of the company’s stock worth $63,002,000 after purchasing an additional 694,327 shares in the last quarter. Finally, Procyon Advisors LLC raised its stake in SPDR Portfolio Corporate Bond ETF by 16.5% in the 1st quarter. Procyon Advisors LLC now owns 1,740,756 shares of the company’s stock valued at $50,534,000 after purchasing an additional 247,084 shares during 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.