SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) Hits New 1-Year Low – Here’s Why

Shares of SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) hit a new 52-week low on Tuesday . The stock traded as low as $27.92 and last traded at $27.97, with a volume of 371151 shares traded. The stock had previously closed at $27.98.

SPDR Portfolio Corporate Bond ETF Stock Performance

The business has a 50-day moving average price of $28.42 and a 200-day moving average price of $28.81.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Flaharty Asset Management LLC raised its stake in SPDR Portfolio Corporate Bond ETF by 4.0% in the fourth quarter. Flaharty Asset Management LLC now owns 736,686 shares of the company’s stock worth $21,614,000 after buying an additional 28,192 shares in the last quarter. Mach 1 Financial Group LLC purchased a new position in shares of SPDR Portfolio Corporate Bond ETF in the 4th quarter valued at $1,166,000. Ritholtz Wealth Management increased its holdings in shares of SPDR Portfolio Corporate Bond ETF by 24.1% in the 1st quarter. Ritholtz Wealth Management now owns 100,235 shares of the company’s stock valued at $2,910,000 after acquiring an additional 19,451 shares during the period. Summit Financial Wealth Advisors LLC raised its position in shares of SPDR Portfolio Corporate Bond ETF by 9.6% in the 1st quarter. Summit Financial Wealth Advisors LLC now owns 1,126,788 shares of the company’s stock worth $32,711,000 after acquiring an additional 99,072 shares in the last quarter. Finally, Foundations Investment Advisors LLC raised its position in shares of SPDR Portfolio Corporate Bond ETF by 21.8% in the 4th quarter. Foundations Investment Advisors LLC now owns 172,793 shares of the company’s stock worth $5,070,000 after acquiring an additional 30,933 shares in the last quarter.

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.