SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) Sets New 52-Week Low – Should You Sell?

SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) shares hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $28.25 and last traded at $28.27, with a volume of 16110 shares traded. The stock had previously closed at $28.44.

SPDR Portfolio Corporate Bond ETF Stock Up 0.1%

The business has a 50 day simple moving average of $28.59 and a 200-day simple moving average of $28.92.

Institutional Investors Weigh In On SPDR Portfolio Corporate Bond ETF

A number of hedge funds and other institutional investors have recently modified their holdings of SPBO. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of SPDR Portfolio Corporate Bond ETF by 82.4% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 881 shares of the company’s stock valued at $26,000 after buying an additional 398 shares during the period. SHP Wealth Management purchased a new stake in shares of SPDR Portfolio Corporate Bond ETF in the 4th quarter valued at approximately $38,000. Creative Capital Management Investments LLC acquired a new stake in shares of SPDR Portfolio Corporate Bond ETF in the first quarter worth $39,000. Advisory Services Network LLC purchased a new position in shares of SPDR Portfolio Corporate Bond ETF during the third quarter valued at $49,000. Finally, Root Financial Partners LLC acquired a new position in SPDR Portfolio Corporate Bond ETF during the first quarter valued at $63,000.

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.