Chesapeake Capital Corp IL Invests $1.66 Million in SPDR Bloomberg Convertible Securities ETF $CWB

Chesapeake Capital Corp IL acquired a new stake in shares of SPDR Bloomberg Convertible Securities ETF (NYSEARCA:CWB) during the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 18,371 shares of the exchange traded fund’s stock, valued at approximately $1,663,000. SPDR Bloomberg Convertible Securities ETF comprises approximately 1.5% of Chesapeake Capital Corp IL’s investment portfolio, making the stock its 7th biggest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of CWB. Ocean Park Asset Management LLC purchased a new stake in SPDR Bloomberg Convertible Securities ETF during the 3rd quarter worth approximately $51,928,000. Goodman Advisory Group LLC purchased a new position in shares of SPDR Bloomberg Convertible Securities ETF in the second quarter worth $41,164,000. Estate Counselors LLC purchased a new position in shares of SPDR Bloomberg Convertible Securities ETF in the third quarter worth $11,647,000. PFG Advisors acquired a new stake in shares of SPDR Bloomberg Convertible Securities ETF during the third quarter worth $8,237,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of SPDR Bloomberg Convertible Securities ETF by 12.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 655,027 shares of the exchange traded fund’s stock worth $54,145,000 after buying an additional 69,970 shares during the period.

SPDR Bloomberg Convertible Securities ETF Price Performance

Shares of CWB opened at $92.05 on Friday. The company’s fifty day moving average price is $93.70 and its 200-day moving average price is $91.37. SPDR Bloomberg Convertible Securities ETF has a 1-year low of $70.56 and a 1-year high of $96.17.

SPDR Bloomberg Convertible Securities ETF Increases Dividend

The company also recently declared a monthly dividend, which was paid on Thursday, March 5th. Shareholders of record on Monday, March 2nd were given a dividend of $0.1465 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a c) dividend on an annualized basis and a yield of 1.9%. This is an increase from SPDR Bloomberg Convertible Securities ETF’s previous monthly dividend of $0.09.

SPDR Bloomberg Convertible Securities ETF Profile

SPDR Barclays Convertible Securities ETF, formerly SPDR Barclays Capital Convertible Securities ETF, seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of an index that tracks United States convertible securities. In seeking to track the performance of the Barclays Capital U.S. Convertible Bond >$500MM Index (the Index), the Fund employs a sampling strategy, which means that the Fund is not required to purchase all of the securities represented in the Index.