SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) Hits New 1-Year Low – Here’s What Happened

SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBOGet Free Report)’s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $28.17 and last traded at $28.1850, with a volume of 86434 shares traded. The stock had previously closed at $28.24.

SPDR Portfolio Corporate Bond ETF Price Performance

The company’s 50-day simple moving average is $28.52 and its 200-day simple moving average is $28.88.

Hedge Funds Weigh In On SPDR Portfolio Corporate Bond ETF

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

About SPDR Portfolio Corporate Bond ETF

(Get Free Report)

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.

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