SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) Sees Large Drop in Short Interest

SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) was the target of a large decline in short interest in June. As of June 15th, there was short interest totaling 208,777 shares, a decline of 57.7% from the May 31st total of 493,758 shares. Approximately 0.3% of the company’s stock are short sold. Based on an average trading volume of 498,301 shares, the days-to-cover ratio is presently 0.4 days.

SPDR Portfolio Corporate Bond ETF Price Performance

NYSEARCA SPBO traded up $0.05 on Monday, reaching $29.20. The company had a trading volume of 3,718,541 shares, compared to its average volume of 681,315. The company’s fifty day moving average is $29.00 and its 200-day moving average is $29.21. SPDR Portfolio Corporate Bond ETF has a 1-year low of $28.57 and a 1-year high of $29.93.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its holdings in shares of SPDR Portfolio Corporate Bond ETF by 82.4% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 881 shares of the company’s stock worth $26,000 after buying an additional 398 shares in the last quarter. SHP Wealth Management acquired a new position in SPDR Portfolio Corporate Bond ETF during the 4th quarter worth approximately $38,000. Creative Capital Management Investments LLC acquired a new position in SPDR Portfolio Corporate Bond ETF during the 1st quarter worth approximately $39,000. Advisory Services Network LLC bought a new position in shares of SPDR Portfolio Corporate Bond ETF during the 3rd quarter worth approximately $49,000. Finally, Eastern Bank bought a new position in shares of SPDR Portfolio Corporate Bond ETF during the 4th quarter worth approximately $53,000.

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.