SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) Sees Significant Drop in Short Interest

SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) was the recipient of a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 136,340 shares, a drop of 51.3% from the August 15th total of 280,014 shares. Based on an average daily trading volume, of 523,814 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.2% of the shares of the stock are short sold.

SPDR Portfolio Corporate Bond ETF Stock Performance

Shares of SPDR Portfolio Corporate Bond ETF stock traded up $0.02 on Wednesday, reaching $28.00. 242,378 shares of the stock were exchanged, compared to its average volume of 631,230. The firm’s 50 day moving average is $28.44 and its 200-day moving average is $28.83. SPDR Portfolio Corporate Bond ETF has a one year low of $27.92 and a one year high of $29.93.

Institutional Investors Weigh In On SPDR Portfolio Corporate Bond ETF

A number of large investors have recently modified their holdings of SPBO. Melone Private Wealth LLC raised its holdings in shares of SPDR Portfolio Corporate Bond ETF by 1.1% during the 2nd quarter. Melone Private Wealth LLC now owns 169,598 shares of the company’s stock worth $4,925,000 after buying an additional 1,792 shares in the last quarter. Hobart Private Capital LLC acquired a new stake in SPDR Portfolio Corporate Bond ETF in the second quarter valued at about $8,935,000. Western Wealth Management LLC acquired a new stake in SPDR Portfolio Corporate Bond ETF in the first quarter valued at about $142,000. Summit Financial Wealth Advisors LLC grew its position in SPDR Portfolio Corporate Bond ETF by 9.6% in the first quarter. Summit Financial Wealth Advisors LLC now owns 1,126,788 shares of the company’s stock valued at $32,711,000 after acquiring an additional 99,072 shares during the last quarter. Finally, Strategic Investment Advisors MI grew its position in SPDR Portfolio Corporate Bond ETF by 60.9% in the first quarter. Strategic Investment Advisors MI now owns 53,190 shares of the company’s stock valued at $1,542,000 after acquiring an additional 20,139 shares during the last quarter.

SPDR Portfolio Corporate Bond ETF Company Profile

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.