SPDR Bloomberg Convertible Securities ETF (NYSEARCA:CWB) Sees Large Decrease in Short Interest

SPDR Bloomberg Convertible Securities ETF (NYSEARCA:CWB) was the recipient of a large drop in short interest in the month of June. As of June 15th, there was short interest totaling 1,165,901 shares, a drop of 53.1% from the May 31st total of 2,487,182 shares. Based on an average trading volume of 1,192,179 shares, the days-to-cover ratio is presently 1.0 days. Currently, 2.1% of the shares of the stock are sold short.

SPDR Bloomberg Convertible Securities ETF Price Performance

Shares of NYSEARCA CWB opened at $105.85 on Thursday. The firm has a fifty day moving average of $105.69 and a 200 day moving average of $97.66. SPDR Bloomberg Convertible Securities ETF has a one year low of $82.00 and a one year high of $112.02.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE raised its holdings in shares of SPDR Bloomberg Convertible Securities ETF by 1.0% during the first quarter. Bank of America Corp DE now owns 2,654,014 shares of the exchange traded fund’s stock valued at $242,895,000 after acquiring an additional 26,717 shares during the last quarter. LPL Financial LLC boosted its stake in shares of SPDR Bloomberg Convertible Securities ETF by 2.3% in the fourth quarter. LPL Financial LLC now owns 1,578,806 shares of the exchange traded fund’s stock worth $140,830,000 after acquiring an additional 35,217 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of SPDR Bloomberg Convertible Securities ETF by 3.4% in the fourth quarter. Wells Fargo & Company MN now owns 1,483,024 shares of the exchange traded fund’s stock worth $132,286,000 after acquiring an additional 48,840 shares during the last quarter. Bessemer Group Inc. boosted its stake in shares of SPDR Bloomberg Convertible Securities ETF by 7.4% in the first quarter. Bessemer Group Inc. now owns 1,215,879 shares of the exchange traded fund’s stock worth $111,278,000 after acquiring an additional 83,758 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of SPDR Bloomberg Convertible Securities ETF by 15.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,042,121 shares of the exchange traded fund’s stock worth $92,957,000 after purchasing an additional 142,387 shares in the last quarter.

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.