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

Shares of SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) reached a new 52-week low during mid-day trading on Tuesday. The company traded as low as $27.51 and last traded at $27.58, with a volume of 388085 shares trading hands. The stock had previously closed at $27.74.

SPDR Portfolio Corporate Bond ETF Trading Down 0.3%

The firm has a fifty day moving average of $28.26 and a 200 day moving average of $28.71.

Institutional Trading of SPDR Portfolio Corporate Bond ETF

Several large investors have recently bought and sold shares of the company. Assetmark Inc. grew its stake in SPDR Portfolio Corporate Bond ETF by 47.0% in the first 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. Hobart Private Capital LLC bought a new stake in SPDR Portfolio Corporate Bond ETF in the second quarter valued at about $8,935,000. Procyon Advisors LLC raised its stake in SPDR Portfolio Corporate Bond ETF by 16.5% during the first quarter. Procyon Advisors LLC now owns 1,740,756 shares of the company’s stock valued at $50,534,000 after buying an additional 247,084 shares in the last quarter. Summit Financial Wealth Advisors LLC raised its stake in SPDR Portfolio Corporate Bond ETF by 9.6% during the first quarter. Summit Financial Wealth Advisors LLC now owns 1,126,788 shares of the company’s stock valued at $32,711,000 after buying an additional 99,072 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in SPDR Portfolio Corporate Bond ETF by 29.8% during the 1st quarter. Royal Bank of Canada now owns 340,386 shares of the company’s stock worth $9,881,000 after buying an additional 78,224 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.