K2 Financial Inc. Has $2.85 Million Stock Position in SPDR Portfolio High Yield Bond ETF $SPHY

K2 Financial Inc. increased its holdings in shares of SPDR Portfolio High Yield Bond ETF (NYSEARCA:SPHY) by 5.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 121,032 shares of the company’s stock after buying an additional 6,135 shares during the quarter. SPDR Portfolio High Yield Bond ETF accounts for approximately 2.5% of K2 Financial Inc.’s holdings, making the stock its 13th largest holding. K2 Financial Inc.’s holdings in SPDR Portfolio High Yield Bond ETF were worth $2,849,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SPHY. ORG Partners LLC acquired a new position in SPDR Portfolio High Yield Bond ETF in the first quarter valued at about $26,000. Cranbrook Wealth Management LLC bought a new position in shares of SPDR Portfolio High Yield Bond ETF during the 2nd quarter valued at about $26,000. Parallel Advisors LLC bought a new position in shares of SPDR Portfolio High Yield Bond ETF during the 2nd quarter valued at about $29,000. Golden State Wealth Management LLC grew its position in shares of SPDR Portfolio High Yield Bond ETF by 193.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,415 shares of the company’s stock valued at $33,000 after purchasing an additional 932 shares during the period. Finally, Centennial Bank AR acquired a new position in shares of SPDR Portfolio High Yield Bond ETF in the 1st quarter valued at approximately $34,000.

SPDR Portfolio High Yield Bond ETF Stock Performance

NYSEARCA SPHY opened at $23.95 on Tuesday. The stock has a market cap of $9.24 billion, a price-to-earnings ratio of 7.31 and a beta of 0.42. The business has a 50 day simple moving average of $23.78 and a 200 day simple moving average of $23.50. SPDR Portfolio High Yield Bond ETF has a 52-week low of $22.21 and a 52-week high of $24.06.

About SPDR Portfolio High Yield Bond ETF

The SPDR Portfolio High Yield Bond ETF (SPHY) is an exchange-traded fund that is based on the ICE BofA US High Yield index. The fund tracks an index that measures the performance of USD-denominated junk bonds. SPHY was launched on Jun 18, 2012 and is managed by State Street.