SPDR Portfolio Intermediate Term Corporate Bond ETF (NYSEARCA:SPIB) Short Interest Up 117.5% in July

SPDR Portfolio Intermediate Term Corporate Bond ETF (NYSEARCA:SPIB) was the target of a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 7,793,899 shares, a growth of 117.5% from the June 30th total of 3,583,178 shares. Based on an average daily trading volume, of 5,607,991 shares, the days-to-cover ratio is presently 1.4 days. Approximately 2.3% of the company’s stock are short sold.

SPDR Portfolio Intermediate Term Corporate Bond ETF Price Performance

Shares of NYSEARCA SPIB traded up $0.06 during midday trading on Tuesday, reaching $33.18. 4,938,450 shares of the company’s stock traded hands, compared to its average volume of 7,685,356. The stock’s 50 day simple moving average is $33.33 and its 200-day simple moving average is $33.57. SPDR Portfolio Intermediate Term Corporate Bond ETF has a one year low of $33.03 and a one year high of $34.14.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SPIB. GoalVest Advisory LLC lifted its stake in shares of SPDR Portfolio Intermediate Term Corporate Bond ETF by 3.4% during the second quarter. GoalVest Advisory LLC now owns 632,007 shares of the company’s stock worth $21,147,000 after buying an additional 20,938 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of SPDR Portfolio Intermediate Term Corporate Bond ETF by 4.6% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 8,469 shares of the company’s stock valued at $283,000 after acquiring an additional 373 shares during the period. Mascagni Wealth Management Inc. raised its stake in 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 stake in SPDR Portfolio Intermediate Term Corporate Bond ETF by 71.7% in the 1st quarter. Strategic Investment Advisors MI now owns 204,494 shares of the company’s stock worth $6,855,000 after acquiring an additional 85,383 shares during the last quarter. Finally, Arkadios Wealth Advisors acquired a new stake in SPDR Portfolio Intermediate Term Corporate Bond ETF during the 1st quarter worth about $1,976,000.

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.