SPDR Bloomberg High Yield Bond ETF $JNK is Jessup Wealth Management Inc’s 5th Largest Position

Jessup Wealth Management Inc cut its stake in SPDR Bloomberg High Yield Bond ETF (NYSEARCA:JNK) by 3.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 110,980 shares of the exchange traded fund’s stock after selling 4,073 shares during the quarter. SPDR Bloomberg High Yield Bond ETF comprises 4.3% of Jessup Wealth Management Inc’s holdings, making the stock its 5th largest holding. Jessup Wealth Management Inc’s holdings in SPDR Bloomberg High Yield Bond ETF were worth $10,795,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Assetmark Inc. boosted its stake in SPDR Bloomberg High Yield Bond ETF by 6.5% during the 2nd quarter. Assetmark Inc. now owns 5,066,020 shares of the exchange traded fund’s stock valued at $492,772,000 after purchasing an additional 309,551 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in SPDR Bloomberg High Yield Bond ETF by 10.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,723,655 shares of the exchange traded fund’s stock valued at $354,458,000 after buying an additional 360,678 shares during the period. Ameriprise Financial Inc. lifted its position in SPDR Bloomberg High Yield Bond ETF by 3.1% during the first quarter. Ameriprise Financial Inc. now owns 1,019,563 shares of the exchange traded fund’s stock valued at $98,591,000 after purchasing an additional 31,039 shares in the last quarter. Toews Corp ADV bought a new stake in shares of SPDR Bloomberg High Yield Bond ETF during the 2nd quarter valued at $51,699,000. Finally, Counterpoint Mutual Funds LLC purchased a new stake in shares of SPDR Bloomberg High Yield Bond ETF during the second quarter worth about $45,947,000. 87.54% of the stock is owned by institutional investors.

SPDR Bloomberg High Yield Bond ETF Price Performance

JNK opened at $97.39 on Friday. The firm has a 50-day simple moving average of $97.54 and a two-hundred day simple moving average of $96.50. SPDR Bloomberg High Yield Bond ETF has a 52 week low of $90.40 and a 52 week high of $98.24. The company has a market capitalization of $8.17 billion, a PE ratio of 19.96 and a beta of 0.42.

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.