SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) Sees Large Decline in Short Interest

SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) saw a significant drop in short interest in January. As of January 30th, there was short interest totaling 147,703 shares, a drop of 40.1% from the January 15th total of 246,570 shares. Based on an average daily volume of 503,231 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.2% of the company’s stock are sold short. Currently, 0.2% of the company’s stock are sold short. Based on an average daily volume of 503,231 shares, the days-to-cover ratio is presently 0.3 days.

SPDR Portfolio Corporate Bond ETF Stock Up 0.3%

Shares of NYSEARCA:SPBO traded up $0.08 during trading on Friday, reaching $29.63. The stock had a trading volume of 213,040 shares, compared to its average volume of 533,238. The firm’s 50-day simple moving average is $29.41 and its 200 day simple moving average is $29.47. SPDR Portfolio Corporate Bond ETF has a one year low of $27.84 and a one year high of $29.93.

SPDR Portfolio Corporate Bond ETF Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Thursday, February 5th. Stockholders of record on Monday, February 2nd were issued a dividend of $0.123 per share. The ex-dividend date was Monday, February 2nd. This represents a c) annualized dividend and a dividend yield of 5.0%. This is a boost from SPDR Portfolio Corporate Bond ETF’s previous monthly dividend of $0.12.

Hedge Funds Weigh In On SPDR Portfolio Corporate Bond ETF

Several hedge funds have recently modified their holdings of SPBO. Wells Fargo & Company MN raised its position in shares of SPDR Portfolio Corporate Bond ETF by 9.3% in the 4th quarter. Wells Fargo & Company MN now owns 317,662 shares of the company’s stock valued at $9,320,000 after purchasing an additional 27,127 shares during the last quarter. Summit Financial LLC increased its stake in SPDR Portfolio Corporate Bond ETF by 6.8% during the 4th quarter. Summit Financial LLC now owns 7,843 shares of the company’s stock valued at $230,000 after purchasing an additional 497 shares in the last quarter. Financial Engines Advisors L.L.C. raised its holdings in shares of SPDR Portfolio Corporate Bond ETF by 9.1% in the fourth quarter. Financial Engines Advisors L.L.C. now owns 566,708 shares of the company’s stock worth $16,627,000 after buying an additional 47,478 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of SPDR Portfolio Corporate Bond ETF by 7.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 75,855 shares of the company’s stock worth $2,226,000 after buying an additional 5,168 shares during the last quarter. Finally, Great Valley Advisor Group Inc. grew its holdings in shares of SPDR Portfolio Corporate Bond ETF by 8.6% during the fourth quarter. Great Valley Advisor Group Inc. now owns 7,794 shares of the company’s stock valued at $229,000 after buying an additional 619 shares during the last quarter.

About SPDR Portfolio Corporate Bond ETF

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.