SPDR Portfolio Intermediate Term Corporate Bond ETF (NYSEARCA:SPIB) Short Interest Up 53.7% in March

SPDR Portfolio Intermediate Term Corporate Bond ETF (NYSEARCA:SPIB) was the recipient of a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 5,692,002 shares, an increase of 53.7% from the February 26th total of 3,703,122 shares. Based on an average daily trading volume, of 12,028,842 shares, the days-to-cover ratio is currently 0.5 days. Currently, 1.8% of the company’s stock are sold short.

Hedge Funds Weigh In On SPDR Portfolio Intermediate Term Corporate Bond ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPIB. Community Bank N.A. boosted its stake in shares of SPDR Portfolio Intermediate Term Corporate Bond ETF by 1.0% in the fourth quarter. Community Bank N.A. now owns 36,854 shares of the company’s stock worth $1,246,000 after buying an additional 360 shares during the last quarter. Fifth Third Securities Inc. grew its stake in shares of SPDR Portfolio Intermediate Term Corporate Bond ETF by 1.5% during the 4th quarter. Fifth Third Securities Inc. now owns 26,732 shares of the company’s stock worth $904,000 after purchasing an additional 405 shares during the period. Alteri Wealth LLC lifted its stake in shares of SPDR Portfolio Intermediate Term Corporate Bond ETF by 6.0% in the 4th quarter. Alteri Wealth LLC now owns 9,872 shares of the company’s stock valued at $334,000 after purchasing an additional 556 shares during the period. NewEdge Advisors LLC lifted its stake in shares of SPDR Portfolio Intermediate Term Corporate Bond ETF by 0.7% in the 2nd quarter. NewEdge Advisors LLC now owns 80,410 shares of the company’s stock valued at $2,700,000 after purchasing an additional 582 shares during the period. Finally, Crestwood Advisors Group LLC boosted its holdings in SPDR Portfolio Intermediate Term Corporate Bond ETF by 1.0% during the fourth quarter. Crestwood Advisors Group LLC now owns 63,171 shares of the company’s stock worth $2,136,000 after buying an additional 619 shares in the last quarter.

SPDR Portfolio Intermediate Term Corporate Bond ETF Stock Performance

SPDR Portfolio Intermediate Term Corporate Bond ETF stock remained flat at $33.30 during midday trading on Friday. The company’s stock had a trading volume of 9,937,902 shares, compared to its average volume of 7,960,644. The stock’s 50-day simple moving average is $33.80 and its 200-day simple moving average is $33.85. SPDR Portfolio Intermediate Term Corporate Bond ETF has a 52 week low of $32.38 and a 52 week high of $34.14.

SPDR Portfolio Intermediate Term Corporate Bond ETF Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Thursday, March 5th. Stockholders of record on Monday, March 2nd were paid a dividend of $0.1234 per share. The ex-dividend date was Monday, March 2nd. This is an increase from SPDR Portfolio Intermediate Term Corporate Bond ETF’s previous monthly dividend of $0.12. This represents a c) annualized dividend and a dividend yield of 4.4%.

About SPDR Portfolio Intermediate Term Corporate Bond ETF

The SPDR Portfolio Intermediate Term Corporate Bond ETF (SPIB) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund tracks a market-value-weighted index of investment-grade, fixed-rate taxable US corporate bonds with a maturity of at least one year, but no more than 10 years. SPIB was launched on Feb 10, 2009 and is managed by State Street.