SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) Hits New 52-Week Low – Time to Sell?

SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) shares hit a new 52-week low on Monday . The company traded as low as $28.57 and last traded at $28.57, with a volume of 301136 shares changing hands. The stock had previously closed at $28.70.

SPDR Portfolio Corporate Bond ETF Stock Performance

The firm’s 50 day moving average price is $28.94 and its two-hundred day moving average price is $29.17.

Hedge Funds Weigh In On SPDR Portfolio Corporate Bond ETF

Institutional investors and hedge funds have recently made changes to their positions in the company. Arkansas Financial Group Inc. lifted its holdings in shares of SPDR Portfolio Corporate Bond ETF by 12.6% in the 4th quarter. Arkansas Financial Group Inc. now owns 820,153 shares of the company’s stock worth $24,063,000 after purchasing an additional 91,532 shares in the last quarter. Mach 1 Financial Group LLC acquired a new position in SPDR Portfolio Corporate Bond ETF during the fourth quarter worth $1,166,000. Valmark Advisers Inc. lifted its stake in shares of SPDR Portfolio Corporate Bond ETF by 75.1% in the fourth 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. Summit Financial Wealth Advisors LLC grew its holdings in shares of SPDR Portfolio Corporate Bond ETF by 12.1% during the fourth quarter. Summit Financial Wealth Advisors LLC now owns 1,027,716 shares of the company’s stock valued at $30,153,000 after buying an additional 110,788 shares during the last quarter. Finally, Ritholtz Wealth Management grew its holdings in shares of SPDR Portfolio Corporate Bond ETF by 24.1% during the first quarter. Ritholtz Wealth Management now owns 100,235 shares of the company’s stock valued at $2,910,000 after buying an additional 19,451 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.