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

SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $28.55 and last traded at $28.56, with a volume of 39525 shares trading hands. The stock had previously closed at $28.64.

SPDR Portfolio Corporate Bond ETF Stock Down 0.2%

The firm’s 50 day simple moving average is $28.89 and its 200 day simple moving average is $29.13.

Hedge Funds Weigh In On SPDR Portfolio Corporate Bond ETF

Institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its holdings in shares of SPDR Portfolio Corporate Bond ETF by 2.7% during the 2nd quarter. Bank of America Corp DE now owns 2,702,160 shares of the company’s stock worth $78,957,000 after acquiring an additional 71,447 shares in the last quarter. Corient Private Wealth LLC grew its holdings 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 valued at $1,860,000 after purchasing an additional 31,822 shares in the last quarter. Private Advisor Group LLC grew its holdings in shares of 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. increased its position in SPDR Portfolio Corporate Bond ETF by 15.6% in 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 last quarter. Finally, Flow Traders U.S. LLC bought a new stake in SPDR Portfolio Corporate Bond ETF in the third quarter worth $390,000.

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.