SPDR Portfolio High Yield Bond ETF (NYSEARCA:SPHY) Sees Significant Decrease in Short Interest

SPDR Portfolio High Yield Bond ETF (NYSEARCA:SPHY) saw a large decline in short interest in March. As of March 13th, there was short interest totaling 3,842,646 shares, a decline of 35.7% from the February 26th total of 5,979,671 shares. Approximately 0.9% of the company’s shares are sold short. Based on an average trading volume of 6,715,633 shares, the days-to-cover ratio is presently 0.6 days.

Institutional Trading of SPDR Portfolio High Yield Bond ETF

A number of large investors have recently modified their holdings of the stock. Newbridge Financial Services Group Inc. boosted its holdings in SPDR Portfolio High Yield Bond ETF by 171.4% in the second quarter. Newbridge Financial Services Group Inc. now owns 1,232 shares of the company’s stock valued at $29,000 after purchasing an additional 778 shares during the period. Fourth Dimension Wealth LLC increased its holdings in SPDR Portfolio High Yield Bond ETF by 89.2% during the 3rd quarter. Fourth Dimension Wealth LLC now owns 1,343 shares of the company’s stock worth $32,000 after purchasing an additional 633 shares during the period. IFC & Insurance Marketing Inc. acquired a new stake in SPDR Portfolio High Yield Bond ETF in the 4th quarter valued at about $38,000. Smartleaf Asset Management LLC boosted its stake in shares of SPDR Portfolio High Yield Bond ETF by 301.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,680 shares of the company’s stock valued at $40,000 after buying an additional 1,262 shares during the period. Finally, Allworth Financial LP boosted its stake in shares of SPDR Portfolio High Yield Bond ETF by 1,098.9% in the 3rd quarter. Allworth Financial LP now owns 2,182 shares of the company’s stock valued at $52,000 after buying an additional 2,000 shares during the period.

SPDR Portfolio High Yield Bond ETF Price Performance

Shares of NYSEARCA SPHY traded down $0.07 during midday trading on Friday, hitting $23.06. The company’s stock had a trading volume of 7,638,086 shares, compared to its average volume of 6,344,357. The firm has a market capitalization of $10.20 billion, a price-to-earnings ratio of 7.31 and a beta of 0.39. The business’s fifty day simple moving average is $23.58 and its two-hundred day simple moving average is $23.69. SPDR Portfolio High Yield Bond ETF has a 1 year low of $22.21 and a 1 year high of $23.99.

SPDR Portfolio High Yield Bond ETF Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Thursday, March 5th. Shareholders of record on Monday, March 2nd were given a $0.1396 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a c) annualized dividend and a yield of 7.3%. This is a boost from SPDR Portfolio High Yield Bond ETF’s previous monthly dividend of $0.14.

About SPDR Portfolio High Yield Bond ETF

The SPDR Portfolio High Yield Bond ETF (SPHY) is an exchange-traded fund that is based on the ICE BofA US High Yield index. The fund tracks an index that measures the performance of USD-denominated junk bonds. SPHY was launched on Jun 18, 2012 and is managed by State Street.