Jessup Wealth Management Inc Boosts Stake in SPDR Bloomberg High Yield Bond ETF $JNK

Jessup Wealth Management Inc increased its stake in SPDR Bloomberg High Yield Bond ETF (NYSEARCA:JNK) by 5.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 132,933 shares of the exchange traded fund’s stock after purchasing an additional 7,229 shares during the quarter. SPDR Bloomberg High Yield Bond ETF makes up approximately 4.3% of Jessup Wealth Management Inc’s portfolio, making the stock its 5th biggest holding. Jessup Wealth Management Inc owned 0.16% of SPDR Bloomberg High Yield Bond ETF worth $12,922,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of JNK. Legacy Wealth Managment LLC ID bought a new stake in shares of SPDR Bloomberg High Yield Bond ETF in the 4th quarter worth approximately $26,000. Caitlin John LLC bought a new stake in shares of SPDR Bloomberg High Yield Bond ETF in the 3rd quarter worth approximately $29,000. Evolution Wealth Management Inc. raised its holdings in shares of SPDR Bloomberg High Yield Bond ETF by 104.8% in the 4th quarter. Evolution Wealth Management Inc. now owns 342 shares of the exchange traded fund’s stock worth $33,000 after purchasing an additional 175 shares during the period. Prestige Wealth Management Group LLC bought a new stake in shares of SPDR Bloomberg High Yield Bond ETF in the 4th quarter worth approximately $35,000. Finally, Brown Brothers Harriman & Co. bought a new stake in shares of SPDR Bloomberg High Yield Bond ETF in the 3rd quarter worth approximately $35,000. Institutional investors own 87.54% of the company’s stock.

SPDR Bloomberg High Yield Bond ETF Price Performance

Shares of JNK stock opened at $95.73 on Thursday. The company’s fifty day simple moving average is $96.31 and its two-hundred day simple moving average is $96.77. SPDR Bloomberg High Yield Bond ETF has a 1 year low of $94.49 and a 1 year high of $98.24. The stock has a market capitalization of $7.24 billion, a price-to-earnings ratio of 19.96 and a beta of 0.41.

SPDR Bloomberg High Yield Bond ETF Company Profile

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.