SPDR Portfolio Short Term Corporate Bond ETF (NYSEARCA:SPSB) Hits New 12-Month Low – Should You Sell?

SPDR Portfolio Short Term Corporate Bond ETF (NYSEARCA:SPSB)’s share price hit a new 52-week low on Wednesday . The company traded as low as $29.64 and last traded at $29.6350, with a volume of 263653 shares traded. The stock had previously closed at $29.69.

SPDR Portfolio Short Term Corporate Bond ETF Trading Down 0.3%

The company’s 50-day moving average is $29.86 and its 200-day moving average is $29.96.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp boosted its holdings in shares of SPDR Portfolio Short Term Corporate Bond ETF by 8.3% during the 2nd quarter. State Street Corp now owns 3,530,180 shares of the company’s stock valued at $105,941,000 after acquiring an additional 269,832 shares in the last quarter. Cherry Tree Wealth Management LLC increased its position in shares of SPDR Portfolio Short Term Corporate Bond ETF by 4.4% during the second quarter. Cherry Tree Wealth Management LLC now owns 732,222 shares of the company’s stock worth $21,974,000 after buying an additional 30,918 shares during the period. MCF Advisors LLC raised its position in shares of SPDR Portfolio Short Term Corporate Bond ETF by 15.7% in the 2nd quarter. MCF Advisors LLC now owns 3,503,919 shares of the company’s stock worth $105,153,000 after acquiring an additional 475,713 shares in the last quarter. Gemmer Asset Management LLC boosted its holdings in shares of SPDR Portfolio Short Term Corporate Bond ETF by 2.4% during the 2nd quarter. Gemmer Asset Management LLC now owns 847,978 shares of the company’s stock worth $25,448,000 after buying an additional 19,590 shares in the last quarter. Finally, Engineers Gate Manager LP bought a new position in SPDR Portfolio Short Term Corporate Bond ETF during the second quarter worth $1,467,000.

About SPDR Portfolio Short Term Corporate Bond ETF

The SPDR Portfolio Short Term Corporate Bond ETF (SPSB) is an exchange-traded fund that is based on the Bloomberg Long U.S. Treasury index. The fund tracks a market-value-weighted index of fixed-rate investment-grade nonconvertible US corporate bonds with 1-3 years remaining in maturity. SPSB was launched on Dec 16, 2009 and is managed by State Street.