SPDR Bloomberg High Yield Bond ETF (NYSEARCA:JNK) Reaches New 1-Year Low – Here’s What Happened

SPDR Bloomberg High Yield Bond ETF (NYSEARCA:JNK)’s share price reached a new 52-week low during trading on Wednesday. The stock traded as low as $94.25 and last traded at $94.2770, with a volume of 473302 shares changing hands. The stock had previously closed at $94.72.

SPDR Bloomberg High Yield Bond ETF Trading Down 0.3%

The company has a market cap of $6.73 billion, a price-to-earnings ratio of 19.96 and a beta of 0.41. The company has a fifty day moving average price of $95.41 and a two-hundred day moving average price of $95.88.

Institutional Investors Weigh In On SPDR Bloomberg High Yield Bond ETF

A number of institutional investors have recently bought and sold shares of the business. State Street Corp lifted its stake in shares of SPDR Bloomberg High Yield Bond ETF by 23.5% during the second quarter. State Street Corp now owns 13,671,856 shares of the exchange traded fund’s stock valued at $1,317,557,000 after acquiring an additional 2,597,336 shares during the period. TD Asset Management Inc acquired a new stake in SPDR Bloomberg High Yield Bond ETF in the fourth quarter worth about $80,090,000. Meeder Asset Management Inc. acquired a new stake in SPDR Bloomberg High Yield Bond ETF in the first quarter worth about $49,475,000. Envestnet Asset Management Inc. raised its holdings in SPDR Bloomberg High Yield Bond ETF by 23.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,246,389 shares of the exchange traded fund’s stock worth $216,485,000 after purchasing an additional 424,952 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its holdings in SPDR Bloomberg High Yield Bond ETF by 189.2% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 593,914 shares of the exchange traded fund’s stock worth $57,236,000 after purchasing an additional 388,579 shares during the last quarter. Institutional investors and hedge funds own 87.54% of the company’s stock.

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.