SPDR SSGA My2027 Corporate Bond ETF (NASDAQ:MYCG) Sees Significant Growth in Short Interest

SPDR SSGA My2027 Corporate Bond ETF (NASDAQ:MYCG) was the target of a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 11,820 shares, a growth of 119.1% from the February 26th total of 5,395 shares. Currently, 1.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 5,475 shares, the days-to-cover ratio is presently 2.2 days.

Hedge Funds Weigh In On SPDR SSGA My2027 Corporate Bond ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Gradient Investments LLC lifted its stake in SPDR SSGA My2027 Corporate Bond ETF by 263.4% in the 4th quarter. Gradient Investments LLC now owns 120,534 shares of the company’s stock valued at $3,018,000 after buying an additional 87,364 shares in the last quarter. L2 Asset Management LLC purchased a new stake in shares of SPDR SSGA My2027 Corporate Bond ETF in the third quarter valued at $1,501,000. Beacon Financial Group lifted its position in shares of SPDR SSGA My2027 Corporate Bond ETF by 10.0% in the third quarter. Beacon Financial Group now owns 8,798 shares of the company’s stock valued at $221,000 after acquiring an additional 798 shares in the last quarter. Marathon Capital Management increased its position in SPDR SSGA My2027 Corporate Bond ETF by 107.3% during the 2nd quarter. Marathon Capital Management now owns 25,471 shares of the company’s stock worth $637,000 after purchasing an additional 13,186 shares in the last quarter. Finally, JPMorgan Chase & Co. purchased a new stake in SPDR SSGA My2027 Corporate Bond ETF during the 2nd quarter worth about $916,000.

SPDR SSGA My2027 Corporate Bond ETF Price Performance

SPDR SSGA My2027 Corporate Bond ETF stock traded up $0.02 during midday trading on Friday, reaching $24.94. The company’s stock had a trading volume of 2,790 shares, compared to its average volume of 5,149. The stock’s 50 day simple moving average is $25.04 and its 200 day simple moving average is $25.05. SPDR SSGA My2027 Corporate Bond ETF has a fifty-two week low of $24.65 and a fifty-two week high of $27.31.

SPDR SSGA My2027 Corporate Bond ETF Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Thursday, March 5th. Shareholders of record on Monday, March 2nd were issued a $0.0882 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a c) annualized dividend and a yield of 4.2%.

About SPDR SSGA My2027 Corporate Bond ETF

The SPDR SSgA My2027 Corporate Bond ETF (MYCG) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed fund of investment grade corporate bonds with effective maturities in 2027. Bonds are USD-denominated. MYCG was launched on Sep 23, 2024 and is issued by State Street.