SPDR Portfolio Mortgage Backed Bond ETF (NYSEARCA:SPMB) Stock Price Breaks Above 50 Day Moving Average – Here’s Why

SPDR Portfolio Mortgage Backed Bond ETF (NYSEARCA:SPMB) shares crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $21.56 and traded as high as $21.61. SPDR Portfolio Mortgage Backed Bond ETF shares last traded at $21.58, with a volume of 2,851,479 shares.

SPDR Portfolio Mortgage Backed Bond ETF Price Performance

The company has a fifty day moving average price of $21.56 and a two-hundred day moving average price of $22.14.

Hedge Funds Weigh In On SPDR Portfolio Mortgage Backed Bond ETF

A number of hedge funds have recently modified their holdings of SPMB. Nwam LLC acquired a new stake in SPDR Portfolio Mortgage Backed Bond ETF during the 2nd quarter worth $2,464,000. Symphony Financial Ltd. Co. acquired a new position in SPDR Portfolio Mortgage Backed Bond ETF in the second quarter valued at $13,199,000. Rinkey Investments acquired a new position in SPDR Portfolio Mortgage Backed Bond ETF in the second quarter valued at $1,359,000. CacheTech Inc. raised its holdings in shares of SPDR Portfolio Mortgage Backed Bond ETF by 29.1% in the first quarter. CacheTech Inc. now owns 106,495 shares of the company’s stock valued at $2,384,000 after buying an additional 24,020 shares during the last quarter. Finally, Confluence Investment Management LLC purchased a new stake in shares of SPDR Portfolio Mortgage Backed Bond ETF in the third quarter valued at about $69,790,000.

About SPDR Portfolio Mortgage Backed Bond ETF

The SPDR Portfolio Mortgage Backed Bond ETF (SPMB) is an exchange-traded fund that is based on the Bloomberg U.S. MBS index. The fund tracks an index of US agency mortgage pass-through debt. SPMB was launched on Jan 15, 2009 and is managed by State Street.