SPDR Portfolio Intermediate Term Corporate Bond ETF (NYSEARCA:SPIB) Sees Large Growth in Short Interest

SPDR Portfolio Intermediate Term Corporate Bond ETF (NYSEARCA:SPIB) was the recipient of a significant growth in short interest in 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 shares of the stock are sold short.

Institutional Investors Weigh In On SPDR Portfolio Intermediate Term Corporate Bond ETF

Several hedge funds and other institutional investors have recently made changes to their positions in SPIB. American Family Investments Inc. purchased a new stake in SPDR Portfolio Intermediate Term Corporate Bond ETF in the second quarter worth $178,108,000. Ameriprise Financial Inc. grew its holdings in shares of SPDR Portfolio Intermediate Term Corporate Bond ETF by 88.4% in the second quarter. Ameriprise Financial Inc. now owns 5,407,199 shares of the company’s stock worth $181,617,000 after purchasing an additional 2,537,710 shares during the last quarter. RMG Wealth Management LLC bought a new position in shares of SPDR Portfolio Intermediate Term Corporate Bond ETF in the first quarter worth about $29,366,000. Manning & Napier Advisors LLC increased its stake in SPDR Portfolio Intermediate Term Corporate Bond ETF by 320.9% in the 1st quarter. Manning & Napier Advisors LLC now owns 628,376 shares of the company’s stock worth $21,076,000 after buying an additional 479,097 shares during the period. Finally, Moment Partners LLC purchased a new position in SPDR Portfolio Intermediate Term Corporate Bond ETF in the 1st quarter worth about $10,698,000.

SPDR Portfolio Intermediate Term Corporate Bond ETF Price Performance

Shares of NYSEARCA:SPIB traded up $0.06 during mid-day trading on Tuesday, reaching $33.18. The stock had a trading volume of 4,938,450 shares, compared to its average volume of 7,685,356. The business’s 50 day moving average price is $33.33 and its 200 day moving average price is $33.57. SPDR Portfolio Intermediate Term Corporate Bond ETF has a 1 year low of $33.03 and a 1 year high of $34.14.

About SPDR Portfolio Intermediate Term Corporate Bond ETF

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.