Garner Asset Management Corp Grows Position in SPDR Bloomberg High Yield Bond ETF $JNK

Garner Asset Management Corp grew its position in SPDR Bloomberg High Yield Bond ETF (NYSEARCA:JNK) by 75.8% during the third quarter, HoldingsChannel.com reports. The fund owned 20,440 shares of the exchange traded fund’s stock after acquiring an additional 8,810 shares during the quarter. Garner Asset Management Corp’s holdings in SPDR Bloomberg High Yield Bond ETF were worth $2,021,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Key Financial Inc bought a new stake in SPDR Bloomberg High Yield Bond ETF in the second quarter worth $34,000. First Community Trust NA bought a new position in SPDR Bloomberg High Yield Bond ETF during the third quarter valued at $39,000. Trust Co. of Vermont grew its stake in shares of SPDR Bloomberg High Yield Bond ETF by 41,800.0% in the 3rd quarter. Trust Co. of Vermont now owns 419 shares of the exchange traded fund’s stock worth $41,000 after buying an additional 418 shares in the last quarter. Beacon Capital Management Inc. bought a new stake in shares of SPDR Bloomberg High Yield Bond ETF in the 2nd quarter worth about $52,000. Finally, Fifth Third Bancorp purchased a new position in SPDR Bloomberg High Yield Bond ETF in the third quarter worth about $61,000. 87.54% of the stock is currently owned by institutional investors.

SPDR Bloomberg High Yield Bond ETF Price Performance

NYSEARCA:JNK opened at $97.62 on Friday. The firm has a market capitalization of $7.93 billion, a price-to-earnings ratio of 19.96 and a beta of 0.42. The business has a 50 day simple moving average of $97.45 and a 200-day simple moving average of $97.32. SPDR Bloomberg High Yield Bond ETF has a 1 year low of $90.40 and a 1 year high of $98.24.

SPDR Bloomberg High Yield Bond ETF Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Thursday, February 5th. Shareholders of record on Monday, February 2nd were given a dividend of $0.5601 per share. This represents a c) dividend on an annualized basis and a yield of 6.9%. This is a positive change from SPDR Bloomberg High Yield Bond ETF’s previous monthly dividend of $0.53. The ex-dividend date was Monday, February 2nd.

About SPDR Bloomberg High Yield Bond ETF

SPDR Barclays High Yield Bond ETF (the Fund), formerly SPDR Barclays Capital High Yield Bond ETF, seeks to provide investment results that correspond to the price and yield performance of the Barclays Capital High Yield Very Liquid Index (the Index). The Index includes publicly issued United States dollar denominated, non-investment grade, fixed-rate, taxable corporate bonds that have a remaining maturity of at least one year, regardless of optionality, are rated high-yield using the middle rating of Moody’s, S&P, and Fitch, respectively, and have $600 million or more of outstanding face value.