SPDR Portfolio Short Term Corporate Bond ETF (NYSEARCA:SPSB) Hits New 12-Month Low – Should You Sell?

Shares of SPDR Portfolio Short Term Corporate Bond ETF (NYSEARCA:SPSB) hit a new 52-week low during trading on Wednesday . The company traded as low as $29.88 and last traded at $29.89, with a volume of 159602 shares changing hands. The stock had previously closed at $29.91.

SPDR Portfolio Short Term Corporate Bond ETF Stock Performance

The company’s 50 day moving average price is $29.97 and its two-hundred day moving average price is $30.10.

Institutional Investors Weigh In On SPDR Portfolio Short Term Corporate Bond ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SPSB. Creative Planning boosted its position in shares of SPDR Portfolio Short Term Corporate Bond ETF by 7.5% in the third quarter. Creative Planning now owns 48,756,348 shares of the company’s stock worth $1,476,830,000 after purchasing an additional 3,401,784 shares during the period. LPL Financial LLC raised its position in shares of SPDR Portfolio Short Term Corporate Bond ETF by 19.2% during the 4th quarter. LPL Financial LLC now owns 9,425,480 shares of the company’s stock valued at $284,649,000 after purchasing an additional 1,518,271 shares during the period. Valmark Advisers Inc. raised its position in shares of SPDR Portfolio Short Term Corporate Bond ETF by 4.5% during the 1st quarter. Valmark Advisers Inc. now owns 9,127,167 shares of the company’s stock valued at $274,454,000 after purchasing an additional 389,971 shares during the period. Morgan Stanley lifted its stake in shares of SPDR Portfolio Short Term Corporate Bond ETF by 13.2% during the 4th quarter. Morgan Stanley now owns 8,712,343 shares of the company’s stock valued at $263,113,000 after buying an additional 1,017,975 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of SPDR Portfolio Short Term Corporate Bond ETF by 52.9% during the 1st quarter. Bank of America Corp DE now owns 7,436,338 shares of the company’s stock valued at $223,611,000 after buying an additional 2,573,239 shares in the last quarter.

SPDR Portfolio Short Term Corporate Bond ETF Company Profile

The SPDR Portfolio Short Term Corporate Bond ETF (SPSB) is an exchange-traded fund that is based on the Bloomberg Long U.S. Treasury index. The fund tracks a market-value-weighted index of fixed-rate investment-grade nonconvertible US corporate bonds with 1-3 years remaining in maturity. SPSB was launched on Dec 16, 2009 and is managed by State Street.