SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) Sees Significant Decline in Short Interest
by Sarita Garza · The Markets DailySPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO – Get Free Report) was the recipient of a large decrease in short interest during the month of March. As of March 13th, there was short interest totaling 177,475 shares, a decrease of 79.7% from the February 26th total of 872,506 shares. Based on an average daily volume of 504,586 shares, the short-interest ratio is presently 0.4 days. Currently, 0.3% of the company’s stock are sold short. Currently, 0.3% of the company’s stock are sold short. Based on an average daily volume of 504,586 shares, the short-interest ratio is presently 0.4 days.
Institutional Trading of SPDR Portfolio Corporate Bond ETF
A number of institutional investors have recently bought and sold shares of the stock. Creative Planning grew its position in SPDR Portfolio Corporate Bond ETF by 63.6% during the 2nd quarter. Creative Planning now owns 16,712 shares of the company’s stock worth $488,000 after purchasing an additional 6,498 shares during the last quarter. Cetera Investment Advisers lifted its stake in shares of SPDR Portfolio Corporate Bond ETF by 16.1% during the second quarter. Cetera Investment Advisers now owns 43,136 shares of the company’s stock worth $1,260,000 after buying an additional 5,994 shares during the period. Level Four Advisory Services LLC grew its holdings in shares of SPDR Portfolio Corporate Bond ETF by 16.2% during the second quarter. Level Four Advisory Services LLC now owns 31,275 shares of the company’s stock valued at $914,000 after buying an additional 4,356 shares during the last quarter. CW Advisors LLC increased its position in shares of SPDR Portfolio Corporate Bond ETF by 3.4% in the 2nd quarter. CW Advisors LLC now owns 1,179,900 shares of the company’s stock valued at $34,477,000 after acquiring an additional 39,069 shares during the period. Finally, Bank of America Corp DE increased its position in shares of 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 acquiring an additional 71,447 shares during the period.
SPDR Portfolio Corporate Bond ETF Stock Up 0.3%
SPBO stock traded up $0.08 on Wednesday, hitting $28.96. 962,158 shares of the company’s stock were exchanged, compared to its average volume of 581,380. SPDR Portfolio Corporate Bond ETF has a 12-month low of $27.84 and a 12-month high of $29.93. The firm has a 50 day moving average price of $29.38 and a two-hundred day moving average price of $29.49.
SPDR Portfolio Corporate Bond ETF Cuts Dividend
The firm also recently declared a monthly dividend, which was paid on Thursday, March 5th. Stockholders of record on Monday, March 2nd were paid a dividend of $0.1225 per share. The ex-dividend date was Monday, March 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 5.1%.
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.