SPDR Bloomberg Convertible Securities ETF (NYSEARCA:CWB) Hits New 52-Week High – Time to Buy?

SPDR Bloomberg Convertible Securities ETF (NYSEARCA:CWB) hit a new 52-week high on Friday . The company traded as high as $102.12 and last traded at $101.73, with a volume of 136014 shares changing hands. The stock had previously closed at $101.04.

SPDR Bloomberg Convertible Securities ETF Trading Up 0.8%

The stock’s 50 day simple moving average is $95.25 and its two-hundred day simple moving average is $92.99.

Institutional Investors Weigh In On SPDR Bloomberg Convertible Securities ETF

Institutional investors have recently made changes to their positions in the company. High Point Wealth Management LLC purchased a new stake in shares of SPDR Bloomberg Convertible Securities ETF during the fourth quarter valued at approximately $26,000. Arax Advisory Partners purchased a new stake in SPDR Bloomberg Convertible Securities ETF in the fourth quarter worth approximately $30,000. Mather Group LLC. purchased a new stake in SPDR Bloomberg Convertible Securities ETF in the third quarter worth approximately $35,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in SPDR Bloomberg Convertible Securities ETF in the fourth quarter worth approximately $36,000. Finally, Highline Wealth Partners LLC purchased a new stake in SPDR Bloomberg Convertible Securities ETF in the fourth quarter worth approximately $39,000.

About SPDR Bloomberg Convertible Securities ETF

SPDR Barclays Convertible Securities ETF, formerly SPDR Barclays Capital Convertible Securities ETF, seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of an index that tracks United States convertible securities. In seeking to track the performance of the Barclays Capital U.S. Convertible Bond >$500MM Index (the Index), the Fund employs a sampling strategy, which means that the Fund is not required to purchase all of the securities represented in the Index.