Short Interest in SPDR Portfolio Intermediate Term Corporate Bond ETF (NYSEARCA:SPIB) Declines By 48.0%

SPDR Portfolio Intermediate Term Corporate Bond ETF (NYSEARCA:SPIB) saw a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 3,341,633 shares, a drop of 48.0% from the May 14th total of 6,421,794 shares. Based on an average daily volume of 6,637,211 shares, the days-to-cover ratio is currently 0.5 days. Currently, 1.0% of the shares of the stock are sold short.

Hedge Funds Weigh In On SPDR Portfolio Intermediate Term Corporate Bond ETF

Several hedge funds have recently modified their holdings of SPIB. Mascagni Wealth Management Inc. grew its holdings in shares of SPDR Portfolio Intermediate Term Corporate Bond ETF by 22.6% in the 1st quarter. Mascagni Wealth Management Inc. now owns 51,688 shares of the company’s stock worth $1,734,000 after acquiring an additional 9,525 shares during the last quarter. Strategic Investment Advisors MI raised its position in shares of SPDR Portfolio Intermediate Term Corporate Bond ETF by 71.7% during the first quarter. Strategic Investment Advisors MI now owns 204,494 shares of the company’s stock worth $6,855,000 after purchasing an additional 85,383 shares during the period. Arkadios Wealth Advisors acquired a new stake in shares of SPDR Portfolio Intermediate Term Corporate Bond ETF during the first quarter worth $1,976,000. EverSource Wealth Advisors LLC raised its position in shares of SPDR Portfolio Intermediate Term Corporate Bond ETF by 99.2% during the first quarter. EverSource Wealth Advisors LLC now owns 11,952 shares of the company’s stock worth $401,000 after purchasing an additional 5,951 shares during the period. Finally, RMG Wealth Management LLC acquired a new stake in shares of SPDR Portfolio Intermediate Term Corporate Bond ETF during the first quarter worth $29,366,000.

SPDR Portfolio Intermediate Term Corporate Bond ETF Stock Up 0.1%

Shares of SPIB stock traded up $0.03 during mid-day trading on Monday, hitting $33.43. 6,507,638 shares of the stock traded hands, compared to its average volume of 8,120,923. SPDR Portfolio Intermediate Term Corporate Bond ETF has a twelve month low of $33.15 and a twelve month high of $34.14. The company’s 50-day simple moving average is $33.47 and its 200-day simple moving average is $33.69.

SPDR Portfolio Intermediate Term Corporate Bond ETF Company Profile

The SPDR Portfolio Intermediate Term Corporate Bond ETF (SPIB) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund tracks a market-value-weighted index of investment-grade, fixed-rate taxable US corporate bonds with a maturity of at least one year, but no more than 10 years. SPIB was launched on Feb 10, 2009 and is managed by State Street.