SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) Sees Large Volume Increase – Still a Buy?

SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) shares saw strong trading volume on Monday . 3,671,411 shares were traded during mid-day trading, an increase of 463% from the previous session’s volume of 652,362 shares.The stock last traded at $29.19 and had previously closed at $29.15.

SPDR Portfolio Corporate Bond ETF Trading Up 0.1%

The business has a fifty day simple moving average of $29.00 and a 200 day simple moving average of $29.21.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPBO. Arkansas Financial Group Inc. lifted its position in SPDR Portfolio Corporate Bond ETF by 12.6% during the fourth quarter. Arkansas Financial Group Inc. now owns 820,153 shares of the company’s stock worth $24,063,000 after buying an additional 91,532 shares in the last quarter. Valmark Advisers Inc. grew its holdings in SPDR Portfolio Corporate Bond ETF by 75.1% in the 4th quarter. Valmark Advisers Inc. now owns 358,456 shares of the company’s stock valued at $10,517,000 after buying an additional 153,695 shares in the last quarter. Mach 1 Financial Group LLC acquired a new stake in shares of SPDR Portfolio Corporate Bond ETF in the 4th quarter worth $1,166,000. Summit Financial Wealth Advisors LLC raised its holdings in shares of SPDR Portfolio Corporate Bond ETF by 12.1% during the 4th quarter. Summit Financial Wealth Advisors LLC now owns 1,027,716 shares of the company’s stock worth $30,153,000 after acquiring an additional 110,788 shares during the period. Finally, Breakwater Capital Group raised its holdings in shares of SPDR Portfolio Corporate Bond ETF by 19.2% during the 4th quarter. Breakwater Capital Group now owns 200,119 shares of the company’s stock worth $5,871,000 after acquiring an additional 32,254 shares during the period.

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.