SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) Sees Strong Trading Volume – Should You Buy?

Shares of SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) saw unusually-high trading volume on Monday . Approximately 6,076,359 shares were traded during trading, an increase of 442% from the previous session’s volume of 1,121,291 shares.The stock last traded at $29.04 and had previously closed at $28.95.

SPDR Portfolio Corporate Bond ETF Trading Down 0.3 %

The business has a fifty day moving average of $28.79 and a 200-day moving average of $29.20.

Hedge Funds Weigh In On SPDR Portfolio Corporate Bond ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Birmingham Capital Management Co. Inc. AL acquired a new position in shares of SPDR Portfolio Corporate Bond ETF in the fourth quarter worth about $5,384,000. Enstar Group LTD purchased a new position in shares of SPDR Portfolio Corporate Bond ETF during the fourth quarter valued at $7,916,000. Ameriprise Financial Inc. raised its position in SPDR Portfolio Corporate Bond ETF by 38.2% during the fourth quarter. Ameriprise Financial Inc. now owns 1,205,293 shares of the company’s stock valued at $34,533,000 after buying an additional 332,895 shares during the period. Parallel Advisors LLC raised its position in SPDR Portfolio Corporate Bond ETF by 17.5% during the fourth quarter. Parallel Advisors LLC now owns 17,057 shares of the company’s stock valued at $489,000 after buying an additional 2,544 shares during the period. Finally, Creative Financial Designs Inc. ADV lifted its stake in SPDR Portfolio Corporate Bond ETF by 108.8% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 2,113 shares of the company’s stock worth $61,000 after acquiring an additional 1,101 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.