SPDR Portfolio High Yield Bond ETF (NYSEARCA:SPHY) Sees Large Decline in Short Interest

SPDR Portfolio High Yield Bond ETF (NYSEARCA:SPHY) was the recipient of a large decline in short interest during the month of March. As of March 13th, there was short interest totaling 3,842,646 shares, a decline of 35.7% from the February 26th total of 5,979,671 shares. Based on an average daily trading volume, of 6,715,633 shares, the short-interest ratio is presently 0.6 days. Approximately 0.9% of the company’s stock are short sold.

SPDR Portfolio High Yield Bond ETF Stock Down 0.3%

NYSEARCA SPHY opened at $23.06 on Friday. SPDR Portfolio High Yield Bond ETF has a 52 week low of $22.21 and a 52 week high of $23.99. The company has a 50 day moving average price of $23.58 and a 200 day moving average price of $23.69. The firm has a market cap of $10.20 billion, a PE ratio of 7.31 and a beta of 0.39.

SPDR Portfolio High Yield Bond ETF Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Thursday, March 5th. Stockholders of record on Monday, March 2nd were given a dividend of $0.1396 per share. The ex-dividend date of this dividend was Monday, March 2nd. This is a boost from SPDR Portfolio High Yield Bond ETF’s previous monthly dividend of $0.14. This represents a c) dividend on an annualized basis and a dividend yield of 7.3%.

Institutional Trading of SPDR Portfolio High Yield Bond ETF

A number of institutional investors have recently made changes to their positions in SPHY. Index Fund Advisors Inc. grew its stake in SPDR Portfolio High Yield Bond ETF by 0.9% during the 3rd quarter. Index Fund Advisors Inc. now owns 47,243 shares of the company’s stock worth $1,131,000 after buying an additional 421 shares during the last quarter. Aspire Private Capital LLC raised its stake in SPDR Portfolio High Yield Bond ETF by 1.6% in the fourth quarter. Aspire Private Capital LLC now owns 28,071 shares of the company’s stock valued at $664,000 after buying an additional 435 shares during the last quarter. PFG Investments LLC boosted its holdings in SPDR Portfolio High Yield Bond ETF by 5.3% in the fourth quarter. PFG Investments LLC now owns 8,808 shares of the company’s stock worth $208,000 after acquiring an additional 440 shares in the last quarter. Inscription Capital LLC grew its stake in shares of SPDR Portfolio High Yield Bond ETF by 1.5% during the third quarter. Inscription Capital LLC now owns 29,907 shares of the company’s stock worth $716,000 after acquiring an additional 454 shares during the last quarter. Finally, Cumberland Partners Ltd grew its stake in shares of SPDR Portfolio High Yield Bond ETF by 4.5% during the third quarter. Cumberland Partners Ltd now owns 10,876 shares of the company’s stock worth $260,000 after acquiring an additional 466 shares during the last quarter.

About SPDR Portfolio High Yield Bond ETF

The SPDR Portfolio High Yield Bond ETF (SPHY) is an exchange-traded fund that is based on the ICE BofA US High Yield index. The fund tracks an index that measures the performance of USD-denominated junk bonds. SPHY was launched on Jun 18, 2012 and is managed by State Street.