SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) Sees Unusually-High Trading Volume – Time to Buy?

SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) shares saw unusually-strong trading volume on Thursday . Approximately 449,523 shares traded hands during mid-day trading, a decline of 22% from the previous session’s volume of 576,199 shares.The stock last traded at $28.89 and had previously closed at $28.96.

SPDR Portfolio Corporate Bond ETF Stock Performance

The stock’s 50 day simple moving average is $29.37 and its two-hundred day simple moving average is $29.48.

SPDR Portfolio Corporate Bond ETF Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Thursday, March 5th. Investors of record on Monday, March 2nd were issued a $0.1225 dividend. The ex-dividend date was Monday, March 2nd. This represents a c) dividend on an annualized basis and a yield of 5.1%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SPBO. Creative Planning increased its position in shares of SPDR Portfolio Corporate Bond ETF by 63.6% in the second quarter. Creative Planning now owns 16,712 shares of the company’s stock worth $488,000 after acquiring an additional 6,498 shares in the last quarter. Cetera Investment Advisers increased its holdings in SPDR Portfolio Corporate Bond ETF by 16.1% in the 2nd quarter. Cetera Investment Advisers now owns 43,136 shares of the company’s stock valued at $1,260,000 after purchasing an additional 5,994 shares in the last quarter. Level Four Advisory Services LLC raised its position in SPDR Portfolio Corporate Bond ETF by 16.2% in the second quarter. Level Four Advisory Services LLC now owns 31,275 shares of the company’s stock valued at $914,000 after purchasing an additional 4,356 shares during the period. CW Advisors LLC lifted its stake in shares of SPDR Portfolio Corporate Bond ETF by 3.4% during the second quarter. CW Advisors LLC now owns 1,179,900 shares of the company’s stock worth $34,477,000 after purchasing an additional 39,069 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of SPDR Portfolio Corporate Bond ETF by 2.7% in the second quarter. Bank of America Corp DE now owns 2,702,160 shares of the company’s stock valued at $78,957,000 after buying an additional 71,447 shares in the last quarter.

SPDR Portfolio Corporate Bond ETF Company Profile

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.