PNC Financial Services Group Inc. Cuts Stake in SPDR Bloomberg High Yield Bond ETF $JNK

PNC Financial Services Group Inc. cut its position in SPDR Bloomberg High Yield Bond ETF (NYSEARCA:JNK) by 22.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 649,058 shares of the exchange traded fund’s stock after selling 193,263 shares during the quarter. PNC Financial Services Group Inc.’s holdings in SPDR Bloomberg High Yield Bond ETF were worth $63,601,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp increased its position in shares of SPDR Bloomberg High Yield Bond ETF by 19.9% during the second quarter. State Street Corp now owns 11,085,683 shares of the exchange traded fund’s stock valued at $1,078,304,000 after acquiring an additional 1,842,852 shares in the last quarter. Assetmark Inc. lifted its position in SPDR Bloomberg High Yield Bond ETF by 8.2% in the 3rd quarter. Assetmark Inc. now owns 5,480,185 shares of the exchange traded fund’s stock valued at $537,003,000 after acquiring an additional 414,165 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in SPDR Bloomberg High Yield Bond ETF by 2.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 2,826,598 shares of the exchange traded fund’s stock valued at $276,978,000 after purchasing an additional 80,325 shares during the last quarter. Gallagher Fiduciary Advisors LLC increased its holdings in shares of SPDR Bloomberg High Yield Bond ETF by 9,700.8% in the 2nd quarter. Gallagher Fiduciary Advisors LLC now owns 2,657,493 shares of the exchange traded fund’s stock worth $258,494,000 after purchasing an additional 2,630,378 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in shares of SPDR Bloomberg High Yield Bond ETF in the second quarter worth $118,767,000. Institutional investors own 87.54% of the company’s stock.

SPDR Bloomberg High Yield Bond ETF Price Performance

Shares of NYSEARCA:JNK opened at $97.48 on Tuesday. SPDR Bloomberg High Yield Bond ETF has a 1 year low of $90.40 and a 1 year high of $98.24. The company has a market cap of $7.92 billion, a P/E ratio of 19.96 and a beta of 0.42. The stock’s fifty day moving average price is $97.42 and its 200-day moving average price is $97.31.

SPDR Bloomberg High Yield Bond ETF Increases Dividend

The business also recently declared a monthly dividend, which was paid on Thursday, February 5th. Stockholders of record on Monday, February 2nd were issued a dividend of $0.5601 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date of this dividend was Monday, February 2nd. This is a boost from SPDR Bloomberg High Yield Bond ETF’s previous monthly dividend of $0.53.

SPDR Bloomberg High Yield Bond ETF Profile

SPDR Barclays High Yield Bond ETF (the Fund), formerly SPDR Barclays Capital High Yield Bond ETF, seeks to provide investment results that correspond to the price and yield performance of the Barclays Capital High Yield Very Liquid Index (the Index). The Index includes publicly issued United States dollar denominated, non-investment grade, fixed-rate, taxable corporate bonds that have a remaining maturity of at least one year, regardless of optionality, are rated high-yield using the middle rating of Moody’s, S&P, and Fitch, respectively, and have $600 million or more of outstanding face value.