SPDR Bloomberg Convertible Securities ETF (NYSEARCA:CWB) Sees Large Decline in Short Interest

SPDR Bloomberg Convertible Securities ETF (NYSEARCA:CWB) was the recipient of a significant drop in short interest in the month of February. As of February 27th, there was short interest totaling 1,208,977 shares, a drop of 20.3% from the February 12th total of 1,517,429 shares. Based on an average daily volume of 886,532 shares, the days-to-cover ratio is currently 1.4 days. Approximately 2.2% of the shares of the company are short sold. Approximately 2.2% of the shares of the company are short sold. Based on an average daily volume of 886,532 shares, the days-to-cover ratio is currently 1.4 days.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CWB. High Point Wealth Management LLC acquired a new position in SPDR Bloomberg Convertible Securities ETF during the 4th quarter worth approximately $26,000. Arax Advisory Partners acquired a new stake in shares of SPDR Bloomberg Convertible Securities ETF in the 4th quarter valued at approximately $30,000. Mather Group LLC. acquired a new stake in shares of SPDR Bloomberg Convertible Securities ETF in the 3rd quarter valued at approximately $35,000. Caldwell Trust Co purchased a new stake in shares of SPDR Bloomberg Convertible Securities ETF in the second quarter valued at approximately $33,000. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of SPDR Bloomberg Convertible Securities ETF in the fourth quarter valued at approximately $36,000.

SPDR Bloomberg Convertible Securities ETF Stock Performance

CWB traded up $1.17 during trading on Monday, hitting $93.22. The stock had a trading volume of 980,301 shares, compared to its average volume of 854,166. SPDR Bloomberg Convertible Securities ETF has a twelve month low of $70.56 and a twelve month high of $96.17. The company’s 50-day moving average price is $93.70 and its 200 day moving average price is $91.44.

SPDR Bloomberg Convertible Securities ETF Increases Dividend

The company also recently announced a monthly dividend, which was paid on Thursday, March 5th. Stockholders of record on Monday, March 2nd were issued a $0.1465 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This is a positive change from SPDR Bloomberg Convertible Securities ETF’s previous monthly dividend of $0.09. This represents a c) annualized dividend and a dividend yield of 1.9%.

About SPDR Bloomberg Convertible Securities ETF

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. Convertible Bond >$500MM Index (the Index), the Fund employs a sampling strategy, which means that the Fund is not required to purchase all of the securities represented in the Index.