SPDR Bloomberg High Yield Bond ETF (NYSEARCA:JNK) Hits New 52-Week Low – What’s Next?

Shares of SPDR Bloomberg High Yield Bond ETF (NYSEARCA:JNK) reached a new 52-week low on Tuesday. The company traded as low as $93.06 and last traded at $93.16, with a volume of 6156449 shares. The stock had previously closed at $93.61.

SPDR Bloomberg High Yield Bond ETF Trading Down 0.2%

The business’s 50 day moving average price is $95.19 and its 200-day moving average price is $95.79. The company has a market cap of $6.63 billion, a price-to-earnings ratio of 19.96 and a beta of 0.41.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of JNK. Envestnet Portfolio Solutions Inc. raised its holdings in shares of SPDR Bloomberg High Yield Bond ETF by 189.2% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 593,914 shares of the exchange traded fund’s stock worth $57,236,000 after buying an additional 388,579 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in SPDR Bloomberg High Yield Bond ETF by 23.3% in the second quarter. Envestnet Asset Management Inc. now owns 2,246,389 shares of the exchange traded fund’s stock valued at $216,485,000 after buying an additional 424,952 shares in the last quarter. State Street Corp boosted its stake in SPDR Bloomberg High Yield Bond ETF by 23.5% in the second quarter. State Street Corp now owns 13,671,856 shares of the exchange traded fund’s stock valued at $1,317,557,000 after buying an additional 2,597,336 shares in the last quarter. Security National Bank of Sioux City Iowa IA grew its position in SPDR Bloomberg High Yield Bond ETF by 15.4% in the second quarter. Security National Bank of Sioux City Iowa IA now owns 3,991 shares of the exchange traded fund’s stock valued at $385,000 after acquiring an additional 532 shares during the last quarter. Finally, Talon Private Wealth LLC grew its position in SPDR Bloomberg High Yield Bond ETF by 24.6% in the second quarter. Talon Private Wealth LLC now owns 41,170 shares of the exchange traded fund’s stock valued at $3,968,000 after acquiring an additional 8,130 shares during the last quarter. Institutional investors own 87.54% of the company’s stock.

SPDR Bloomberg High Yield Bond ETF Company Profile

SPDR Barclays High Yield Bond ETF (the Fund), formerly SPDR Barclays Capital High Yield Bond ETF, seeks to provide investment results that correspond to the price and yield performance of the Barclays Capital High Yield Very Liquid Index (the Index). The Index includes publicly issued United States dollar denominated, non-investment grade, fixed-rate, taxable corporate bonds that have a remaining maturity of at least one year, regardless of optionality, are rated high-yield using the middle rating of Moody’s, S&P, and Fitch, respectively, and have $600 million or more of outstanding face value.