SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) Sets New 52-Week Low – What’s Next?

SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) hit a new 52-week low on Monday . The stock traded as low as $28.37 and last traded at $28.37, with a volume of 256602 shares changing hands. The stock had previously closed at $28.51.

SPDR Portfolio Corporate Bond ETF Price Performance

The stock has a 50 day simple moving average of $28.79 and a two-hundred day simple moving average of $29.05.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Bank of America Corp DE grew its stake in SPDR Portfolio Corporate Bond ETF by 2.7% in the 2nd quarter. Bank of America Corp DE now owns 2,702,160 shares of the company’s stock valued at $78,957,000 after buying an additional 71,447 shares during the last quarter. Corient Private Wealth LLC increased its position in shares of SPDR Portfolio Corporate Bond ETF by 100.0% in the second quarter. Corient Private Wealth LLC now owns 63,644 shares of the company’s stock worth $1,860,000 after purchasing an additional 31,822 shares during the period. Private Advisor Group LLC raised its stake in SPDR Portfolio Corporate Bond ETF by 2.6% in the third quarter. Private Advisor Group LLC now owns 142,935 shares of the company’s stock valued at $4,235,000 after purchasing an additional 3,558 shares in the last quarter. Ameriprise Financial Inc. lifted its position in SPDR Portfolio Corporate Bond ETF by 15.6% during the third quarter. Ameriprise Financial Inc. now owns 7,339,315 shares of the company’s stock worth $217,450,000 after purchasing an additional 988,964 shares during the period. Finally, Flow Traders U.S. LLC acquired a new stake in SPDR Portfolio Corporate Bond ETF during the third quarter worth about $390,000.

SPDR Portfolio Corporate Bond ETF Company Profile

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.