SPDR Portfolio Short Term Corporate Bond ETF (NYSEARCA:SPSB) Sets New 52-Week Low – Here’s Why

SPDR Portfolio Short Term Corporate Bond ETF (NYSEARCA:SPSB) shares reached a new 52-week low during trading on Tuesday . The company traded as low as $29.93 and last traded at $29.94, with a volume of 37686 shares trading hands. The stock had previously closed at $29.95.

SPDR Portfolio Short Term Corporate Bond ETF Price Performance

The company has a 50-day simple moving average of $30.03 and a 200 day simple moving average of $30.16.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Creative Planning increased its stake in shares of SPDR Portfolio Short Term Corporate Bond ETF by 7.5% during the third quarter. Creative Planning now owns 48,756,348 shares of the company’s stock valued at $1,476,830,000 after buying an additional 3,401,784 shares during the period. Bank of America Corp DE lifted its stake in SPDR Portfolio Short Term Corporate Bond ETF by 52.9% in the first quarter. Bank of America Corp DE now owns 7,436,338 shares of the company’s stock worth $223,611,000 after acquiring an additional 2,573,239 shares during the period. LPL Financial LLC grew its holdings in SPDR Portfolio Short Term Corporate Bond ETF by 19.2% during the 4th quarter. LPL Financial LLC now owns 9,425,480 shares of the company’s stock worth $284,649,000 after acquiring an additional 1,518,271 shares in the last quarter. Wells Fargo & Company MN increased its position in SPDR Portfolio Short Term Corporate Bond ETF by 52.7% during the 4th quarter. Wells Fargo & Company MN now owns 3,677,610 shares of the company’s stock valued at $111,064,000 after purchasing an additional 1,269,768 shares during the period. Finally, SoundView Advisors Inc. purchased a new position in SPDR Portfolio Short Term Corporate Bond ETF during the 4th quarter valued at about $30,807,000.

About SPDR Portfolio Short Term Corporate Bond ETF

The SPDR Portfolio Short Term Corporate Bond ETF (SPSB) is an exchange-traded fund that is based on the Bloomberg Long U.S. Treasury index. The fund tracks a market-value-weighted index of fixed-rate investment-grade nonconvertible US corporate bonds with 1-3 years remaining in maturity. SPSB was launched on Dec 16, 2009 and is managed by State Street.