SPDR Bloomberg Short Term High Yield Bond ETF (NYSEARCA:SJNK) Short Interest Down 43.9% in June

SPDR Bloomberg Short Term High Yield Bond ETF (NYSEARCA:SJNK) was the target of a large drop in short interest in June. As of June 15th, there was short interest totaling 1,405,193 shares, a drop of 43.9% from the May 31st total of 2,506,966 shares. Based on an average daily volume of 2,751,308 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.7% of the company’s stock are sold short.

SPDR Bloomberg Short Term High Yield Bond ETF Price Performance

Shares of SPDR Bloomberg Short Term High Yield Bond ETF stock traded down $0.12 during trading on Wednesday, hitting $24.91. 2,517,791 shares of the stock were exchanged, compared to its average volume of 3,575,698. The firm’s 50-day moving average price is $25.04 and its 200 day moving average price is $25.15. The stock has a market cap of $4.76 billion, a price-to-earnings ratio of 0.90 and a beta of 0.29. SPDR Bloomberg Short Term High Yield Bond ETF has a 12-month low of $24.72 and a 12-month high of $25.65.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC grew its holdings in shares of SPDR Bloomberg Short Term High Yield Bond ETF by 1.4% during the first quarter. NewEdge Advisors LLC now owns 33,319 shares of the company’s stock worth $838,000 after purchasing an additional 469 shares during the last quarter. Franklin Resources Inc. purchased a new position in SPDR Bloomberg Short Term High Yield Bond ETF during the 2nd quarter worth $36,000. Peapack Gladstone Financial Corp lifted its stake in shares of SPDR Bloomberg Short Term High Yield Bond ETF by 6.1% in the 2nd quarter. Peapack Gladstone Financial Corp now owns 27,510 shares of the company’s stock worth $701,000 after acquiring an additional 1,585 shares during the period. Bank of America Corp DE boosted its holdings in shares of SPDR Bloomberg Short Term High Yield Bond ETF by 11.5% in the second quarter. Bank of America Corp DE now owns 2,789,991 shares of the company’s stock valued at $71,089,000 after acquiring an additional 287,647 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of SPDR Bloomberg Short Term High Yield Bond ETF by 15.9% in the second quarter. Smartleaf Asset Management LLC now owns 3,784 shares of the company’s stock valued at $96,000 after acquiring an additional 519 shares in the last quarter.

About SPDR Bloomberg Short Term High Yield Bond ETF

The SPDR Bloomberg Short Term High Yield Bond ETF (SJNK) is an exchange-traded fund that mostly invests in high yield fixed income. The fund tracks a market-value-weighted index of short-term publicly issued US high yield corporate bonds, with a remaining maturity of less than five years. SJNK was launched on Mar 15, 2012 and is managed by State Street.