SPDR SSGA My2027 Corporate Bond ETF (NASDAQ:MYCG) Sees Significant Increase in Short Interest

SPDR SSGA My2027 Corporate Bond ETF (NASDAQ:MYCG) was the target of a large growth in short interest in the month of May. As of May 29th, there was short interest totaling 2,906 shares, a growth of 118.8% from the May 14th total of 1,328 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average daily trading volume, of 1,753 shares, the short-interest ratio is presently 1.7 days.

SPDR SSGA My2027 Corporate Bond ETF Trading Up 0.1%

MYCG traded up $0.02 during trading on Friday, hitting $24.97. 4,604 shares of the stock traded hands, compared to its average volume of 4,229. The firm has a 50-day moving average of $24.96 and a 200 day moving average of $25.01. SPDR SSGA My2027 Corporate Bond ETF has a 12-month low of $24.87 and a 12-month high of $25.14.

SPDR SSGA My2027 Corporate Bond ETF Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Thursday, June 4th. Shareholders of record on Monday, June 1st were given a dividend of $0.0887 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a c) annualized dividend and a yield of 4.3%.

Institutional Investors Weigh In On SPDR SSGA My2027 Corporate Bond ETF

Several institutional investors have recently added to or reduced their stakes in MYCG. Lido Advisors LLC purchased a new stake in SPDR SSGA My2027 Corporate Bond ETF during the 4th quarter valued at $2,761,000. Gradient Investments LLC boosted its position in SPDR SSGA My2027 Corporate Bond ETF by 263.4% during the 4th quarter. Gradient Investments LLC now owns 120,534 shares of the company’s stock valued at $3,018,000 after buying an additional 87,364 shares during the period. L2 Asset Management LLC bought a new position in SPDR SSGA My2027 Corporate Bond ETF in the 3rd quarter worth $1,501,000. JPMorgan Chase & Co. bought a new position in SPDR SSGA My2027 Corporate Bond ETF in the 2nd quarter worth $916,000. Finally, LPL Financial LLC raised its holdings in SPDR SSGA My2027 Corporate Bond ETF by 11.7% in the 4th quarter. LPL Financial LLC now owns 230,565 shares of the company’s stock worth $5,774,000 after purchasing an additional 24,240 shares in the last quarter.

About SPDR SSGA My2027 Corporate Bond ETF

The SPDR SSgA My2027 Corporate Bond ETF (MYCG) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed fund of investment grade corporate bonds with effective maturities in 2027. Bonds are USD-denominated. MYCG was launched on Sep 23, 2024 and is issued by State Street.