SPDR Barclays Capital Convertible SecETF (NYSEARCA:CWB) saw a significant decrease in short interest in the month of November. As of November 30th, there was short interest totalling 497,685 shares, a decrease of 73.3% from the November 15th total of 1,864,199 shares. Based on an average daily trading volume, of 405,940 shares, the days-to-cover ratio is presently 1.2 days.

Several institutional investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN raised its position in SPDR Barclays Capital Convertible SecETF by 37.3% in the third quarter. Wells Fargo & Company MN now owns 3,197,097 shares of the exchange traded fund’s stock worth $163,276,000 after acquiring an additional 869,268 shares during the period. Ameriprise Financial Inc. raised its position in SPDR Barclays Capital Convertible SecETF by 14.4% in the second quarter. Ameriprise Financial Inc. now owns 799,933 shares of the exchange traded fund’s stock worth $39,687,000 after acquiring an additional 100,863 shares during the period. Winfield Associates Inc. raised its position in SPDR Barclays Capital Convertible SecETF by 2.7% in the third quarter. Winfield Associates Inc. now owns 87,359 shares of the exchange traded fund’s stock worth $4,461,000 after acquiring an additional 2,269 shares during the period. Mountain Capital Investment Advisors Inc raised its position in SPDR Barclays Capital Convertible SecETF by 18.6% in the third quarter. Mountain Capital Investment Advisors Inc now owns 85,964 shares of the exchange traded fund’s stock worth $4,390,000 after acquiring an additional 13,495 shares during the period. Finally, Advisory Alpha LLC raised its position in SPDR Barclays Capital Convertible SecETF by 11.6% in the second quarter. Advisory Alpha LLC now owns 266,594 shares of the exchange traded fund’s stock worth $13,393,000 after acquiring an additional 27,726 shares during the period.

SPDR Barclays Capital Convertible SecETF (CWB) opened at $50.86 on Friday. SPDR Barclays Capital Convertible SecETF has a 12 month low of $45.44 and a 12 month high of $52.67.

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Wednesday, December 20th will be paid a $0.7507 dividend. This represents a $9.01 dividend on an annualized basis and a dividend yield of 17.71%. This is a positive change from SPDR Barclays Capital Convertible SecETF’s previous monthly dividend of $0.13. The ex-dividend date is Tuesday, December 19th.

Several research firms have recently weighed in on CWB. BMO Capital Markets reiterated a “hold” rating and set a $33.00 price objective on shares of SPDR Barclays Capital Convertible SecETF in a research report on Wednesday, November 15th. Canaccord Genuity reiterated a “hold” rating and set a $33.00 price objective on shares of SPDR Barclays Capital Convertible SecETF in a research report on Tuesday, October 31st. Finally, Scotiabank reiterated a “buy” rating and set a $42.00 price objective on shares of SPDR Barclays Capital Convertible SecETF in a research report on Wednesday, November 22nd.

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About SPDR Barclays Capital Convertible SecETF

SPDR Barclays Convertible Securities ETF, formerly SPDR Barclays Capital Convertible Securities ETF, seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of an index that tracks United States convertible securities. In seeking to track the performance of the Barclays Capital U.S.

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