Gerber Kawasaki Wealth & Investment Management Purchases 124,977 Shares of SPDR Bloomberg High Yield Bond ETF $JNK

Gerber Kawasaki Wealth & Investment Management increased its position in SPDR Bloomberg High Yield Bond ETF (NYSEARCA:JNK) by 60.5% in the third quarter, Holdings Channel.com reports. The firm owned 331,428 shares of the exchange traded fund’s stock after acquiring an additional 124,977 shares during the period. SPDR Bloomberg High Yield Bond ETF comprises approximately 1.1% of Gerber Kawasaki Wealth & Investment Management’s portfolio, making the stock its 27th largest holding. Gerber Kawasaki Wealth & Investment Management’s holdings in SPDR Bloomberg High Yield Bond ETF were worth $32,477,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in JNK. Clearstead Advisors LLC boosted its stake in shares of SPDR Bloomberg High Yield Bond ETF by 8.5% in the 3rd quarter. Clearstead Advisors LLC now owns 1,377 shares of the exchange traded fund’s stock valued at $135,000 after purchasing an additional 108 shares during the last quarter. Apollon Financial LLC raised its stake in shares of SPDR Bloomberg High Yield Bond ETF by 2.5% during the third quarter. Apollon Financial LLC now owns 4,585 shares of the exchange traded fund’s stock worth $449,000 after buying an additional 114 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of SPDR Bloomberg High Yield Bond ETF by 4.7% during the third quarter. Parallel Advisors LLC now owns 2,656 shares of the exchange traded fund’s stock worth $260,000 after buying an additional 120 shares during the last quarter. Franklin Resources Inc. lifted its holdings in SPDR Bloomberg High Yield Bond ETF by 13.3% in the second quarter. Franklin Resources Inc. now owns 1,059 shares of the exchange traded fund’s stock valued at $103,000 after buying an additional 124 shares during the period. Finally, Intergy Private Wealth LLC lifted its holdings in SPDR Bloomberg High Yield Bond ETF by 4.5% in the third quarter. Intergy Private Wealth LLC now owns 3,084 shares of the exchange traded fund’s stock valued at $302,000 after buying an additional 134 shares during the period. 87.54% of the stock is currently owned by institutional investors and hedge funds.

SPDR Bloomberg High Yield Bond ETF Stock Performance

Shares of JNK stock opened at $95.91 on Monday. The firm’s 50 day moving average price is $97.43 and its two-hundred day moving average price is $97.34. SPDR Bloomberg High Yield Bond ETF has a 52-week low of $90.40 and a 52-week high of $98.24. The stock has a market cap of $7.80 billion, a PE ratio of 19.96 and a beta of 0.42.

SPDR Bloomberg High Yield Bond ETF Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Thursday, March 5th. Stockholders of record on Monday, March 2nd were given a dividend of $0.5246 per share. This represents a c) annualized dividend and a dividend yield of 6.6%. The ex-dividend date was Monday, March 2nd.

About SPDR Bloomberg High Yield Bond ETF

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.