SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) Sets New 1-Year Low – Should You Sell?

SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) shares hit a new 52-week low on Monday . The stock traded as low as $28.36 and last traded at $28.37, with a volume of 185614 shares trading hands. The stock had previously closed at $28.42.

SPDR Portfolio Corporate Bond ETF Stock Performance

The business’s 50 day moving average price is $28.72 and its 200-day moving average price is $29.00.

Hedge Funds Weigh In On SPDR Portfolio Corporate Bond ETF

Institutional investors and hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its holdings in SPDR Portfolio Corporate Bond ETF by 82.4% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 881 shares of the company’s stock worth $26,000 after purchasing an additional 398 shares during the last quarter. SHP Wealth Management acquired a new position in SPDR Portfolio Corporate Bond ETF in the 4th quarter valued at $38,000. Creative Capital Management Investments LLC bought a new position in SPDR Portfolio Corporate Bond ETF during the 1st quarter worth $39,000. Advisory Services Network LLC bought a new position in SPDR Portfolio Corporate Bond ETF during the 3rd quarter worth $49,000. Finally, Root Financial Partners LLC acquired a new stake in shares of SPDR Portfolio Corporate Bond ETF during the first quarter worth $63,000.

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.