SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) Hits New 1-Year Low – Here’s Why

Shares of SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) reached a new 52-week low on Wednesday . The company traded as low as $28.17 and last traded at $28.1850, with a volume of 86434 shares traded. The stock had previously closed at $28.24.

SPDR Portfolio Corporate Bond ETF Price Performance

The business has a 50-day moving average of $28.52 and a 200-day moving average of $28.88.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Melone Private Wealth LLC raised its position in SPDR Portfolio Corporate Bond ETF by 1.1% in the second quarter. Melone Private Wealth LLC now owns 169,598 shares of the company’s stock worth $4,925,000 after acquiring an additional 1,792 shares in the last quarter. Hobart Private Capital LLC purchased a new position in shares of SPDR Portfolio Corporate Bond ETF during the 2nd quarter worth approximately $8,935,000. Western Wealth Management LLC acquired a new position in shares of SPDR Portfolio Corporate Bond ETF in the first quarter worth $142,000. Summit Financial Wealth Advisors LLC increased its position in SPDR Portfolio Corporate Bond ETF by 9.6% during the 1st quarter. Summit Financial Wealth Advisors LLC now owns 1,126,788 shares of the company’s stock worth $32,711,000 after purchasing an additional 99,072 shares in the last quarter. Finally, Strategic Investment Advisors MI boosted its position in SPDR Portfolio Corporate Bond ETF by 60.9% during the first quarter. Strategic Investment Advisors MI now owns 53,190 shares of the company’s stock worth $1,542,000 after acquiring an additional 20,139 shares during the last quarter.

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.