SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) Sees Large Decline in Short Interest

SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) was the recipient of a large drop in short interest in the month of July. As of July 15th, there was short interest totaling 238,540 shares, a drop of 93.2% from the June 30th total of 3,510,430 shares. Based on an average trading volume of 620,856 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.3% of the shares of the company are sold short.

SPDR Portfolio Corporate Bond ETF Trading Up 0.0%

SPBO stock traded up $0.01 during trading on Friday, reaching $28.45. 303,646 shares of the company’s stock were exchanged, compared to its average volume of 666,719. SPDR Portfolio Corporate Bond ETF has a 1-year low of $28.40 and a 1-year high of $29.93. The company’s fifty day moving average price is $28.87 and its 200-day moving average price is $29.12.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE lifted its position in shares of SPDR Portfolio Corporate Bond ETF by 2.7% during the 2nd quarter. Bank of America Corp DE now owns 2,702,160 shares of the company’s stock valued at $78,957,000 after acquiring an additional 71,447 shares during the last quarter. Corient Private Wealth LLC raised its holdings in SPDR Portfolio Corporate Bond ETF by 100.0% during the 2nd quarter. Corient Private Wealth LLC now owns 63,644 shares of the company’s stock worth $1,860,000 after buying an additional 31,822 shares during the period. Private Advisor Group LLC raised its holdings in SPDR Portfolio Corporate Bond ETF by 2.6% during the 3rd quarter. Private Advisor Group LLC now owns 142,935 shares of the company’s stock worth $4,235,000 after buying an additional 3,558 shares during the period. Ameriprise Financial Inc. lifted its stake in SPDR Portfolio Corporate Bond ETF by 15.6% during the third quarter. Ameriprise Financial Inc. now owns 7,339,315 shares of the company’s stock valued at $217,450,000 after buying an additional 988,964 shares in the last quarter. Finally, Flow Traders U.S. LLC purchased a new stake in SPDR Portfolio Corporate Bond ETF during the third quarter valued at about $390,000.

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.