SPDR Portfolio Short Term Corporate Bond ETF (NYSEARCA:SPSB) Shares Break Below 50 Day Moving Average – Here’s What Happened

SPDR Portfolio Short Term Corporate Bond ETF (NYSEARCA:SPSB)’s share price passed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $29.66 and traded as low as $29.60. SPDR Portfolio Short Term Corporate Bond ETF shares last traded at $29.62, with a volume of 1,927,809 shares.

SPDR Portfolio Short Term Corporate Bond ETF Stock Performance

The firm has a fifty day moving average price of $29.66 and a 200 day moving average price of $29.94.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rodgers & Associates LTD lifted its position in shares of SPDR Portfolio Short Term Corporate Bond ETF by 5.9% during the second quarter. Rodgers & Associates LTD now owns 1,764,606 shares of the company’s stock worth $52,956,000 after purchasing an additional 98,891 shares in the last quarter. Capital Wealth Management LLC increased its holdings in shares of SPDR Portfolio Short Term Corporate Bond ETF by 4.9% in the second quarter. Capital Wealth Management LLC now owns 1,227,718 shares of the company’s stock valued at $36,844,000 after purchasing an additional 56,973 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of SPDR Portfolio Short Term Corporate Bond ETF by 42.4% in the second quarter. NewEdge Advisors LLC now owns 113,154 shares of the company’s stock valued at $3,396,000 after purchasing an additional 33,667 shares in the last quarter. State Street Corp raised its position in SPDR Portfolio Short Term Corporate Bond ETF by 8.3% in the 2nd quarter. State Street Corp now owns 3,530,180 shares of the company’s stock worth $105,941,000 after purchasing an additional 269,832 shares during the last quarter. Finally, Bank of America Corp DE raised its position in SPDR Portfolio Short Term Corporate Bond ETF by 52.9% in the 1st quarter. Bank of America Corp DE now owns 7,436,338 shares of the company’s stock worth $223,611,000 after purchasing an additional 2,573,239 shares during the last quarter.

About SPDR Portfolio Short Term Corporate Bond ETF

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.