SPDR Bloomberg Convertible Securities ETF (NYSEARCA:CWB) Reaches New 12-Month High – Still a Buy?

Shares of SPDR Bloomberg Convertible Securities ETF (NYSEARCA:CWB) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $106.74 and last traded at $106.72, with a volume of 511914 shares changing hands. The stock had previously closed at $106.04.

SPDR Bloomberg Convertible Securities ETF Stock Performance

The company has a 50-day moving average of $97.16 and a 200-day moving average of $93.80.

Institutional Investors Weigh In On SPDR Bloomberg Convertible Securities ETF

Institutional investors and hedge funds have recently made changes to their positions in the company. High Point Wealth Management LLC acquired a new stake in SPDR Bloomberg Convertible Securities ETF in the fourth quarter worth $26,000. Arax Advisory Partners acquired a new stake in SPDR Bloomberg Convertible Securities ETF in the fourth quarter worth $30,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in SPDR Bloomberg Convertible Securities ETF in the fourth quarter worth $36,000. Highline Wealth Partners LLC acquired a new stake in SPDR Bloomberg Convertible Securities ETF in the fourth quarter worth $39,000. Finally, Copia Wealth Management acquired a new stake in SPDR Bloomberg Convertible Securities ETF in the fourth quarter worth $43,000.

About SPDR Bloomberg Convertible Securities ETF

SPDR Barclays Convertible Securities ETF, formerly SPDR Barclays Capital Convertible Securities ETF, seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of an index that tracks United States convertible securities. In seeking to track the performance of the Barclays Capital U.S. Convertible Bond >$500MM Index (the Index), the Fund employs a sampling strategy, which means that the Fund is not required to purchase all of the securities represented in the Index.