SPDR Portfolio Intermediate Term Corporate Bond ETF (NYSEARCA:SPIB) Reaches New 52-Week Low – Here’s Why

SPDR Portfolio Intermediate Term Corporate Bond ETF (NYSEARCA:SPIB)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $32.91 and last traded at $32.92, with a volume of 127356 shares. The stock had previously closed at $33.08.

SPDR Portfolio Intermediate Term Corporate Bond ETF Price Performance

The stock has a 50-day moving average of $33.19 and a 200 day moving average of $33.43.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. American Family Investments Inc. acquired a new stake in shares of SPDR Portfolio Intermediate Term Corporate Bond ETF during the second quarter valued at about $178,108,000. Ameriprise Financial Inc. increased its holdings in SPDR Portfolio Intermediate Term Corporate Bond ETF by 88.4% in the second quarter. Ameriprise Financial Inc. now owns 5,407,199 shares of the company’s stock valued at $181,617,000 after purchasing an additional 2,537,710 shares during the period. RMG Wealth Management LLC acquired a new stake in SPDR Portfolio Intermediate Term Corporate Bond ETF in the first quarter valued at $29,366,000. Manning & Napier Advisors LLC raised its position in SPDR Portfolio Intermediate Term Corporate Bond ETF by 320.9% during the 1st quarter. Manning & Napier Advisors LLC now owns 628,376 shares of the company’s stock worth $21,076,000 after purchasing an additional 479,097 shares during the last quarter. Finally, Moment Partners LLC acquired a new position in SPDR Portfolio Intermediate Term Corporate Bond ETF during the 1st quarter worth about $10,698,000.

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.