Rafferty Asset Management LLC Boosts Stock Holdings in SPDR Bloomberg High Yield Bond ETF $JNK

Rafferty Asset Management LLC lifted its holdings in SPDR Bloomberg High Yield Bond ETF (NYSEARCA:JNK) by 36.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 42,010 shares of the exchange traded fund’s stock after purchasing an additional 11,170 shares during the period. Rafferty Asset Management LLC owned about 0.05% of SPDR Bloomberg High Yield Bond ETF worth $4,117,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of JNK. Caitlin John LLC bought a new position in SPDR Bloomberg High Yield Bond ETF in the third quarter worth approximately $29,000. Key Financial Inc purchased a new position in shares of SPDR Bloomberg High Yield Bond ETF in the 2nd quarter valued at $34,000. First Community Trust NA purchased a new position in shares of SPDR Bloomberg High Yield Bond ETF in the 3rd quarter valued at $39,000. Trust Co. of Vermont raised its position in shares of SPDR Bloomberg High Yield Bond ETF by 41,800.0% in the 3rd quarter. Trust Co. of Vermont now owns 419 shares of the exchange traded fund’s stock worth $41,000 after acquiring an additional 418 shares in the last quarter. Finally, Beacon Capital Management Inc. purchased a new stake in shares of SPDR Bloomberg High Yield Bond ETF during the 2nd quarter worth $52,000. 87.54% of the stock is currently owned by institutional investors.

SPDR Bloomberg High Yield Bond ETF Price Performance

Shares of JNK stock opened at $96.46 on Wednesday. The stock’s 50-day moving average is $97.48 and its 200 day moving average is $97.35. SPDR Bloomberg High Yield Bond ETF has a 1-year low of $90.40 and a 1-year high of $98.24. The company has a market cap of $7.84 billion, a P/E ratio of 19.96 and a beta of 0.42.

SPDR Bloomberg High Yield Bond ETF Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, March 5th. Stockholders of record on Monday, March 2nd will be issued a $0.5246 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date is Monday, March 2nd.

About SPDR Bloomberg High Yield Bond ETF

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.