SPDR Portfolio Short Term Corporate Bond ETF (NYSEARCA:SPSB) Sets New 12-Month Low – Should You Sell?

SPDR Portfolio Short Term Corporate Bond ETF (NYSEARCA:SPSB)’s stock price hit a new 52-week low on Tuesday . The company traded as low as $29.85 and last traded at $29.85, with a volume of 3890428 shares traded. The stock had previously closed at $29.89.

SPDR Portfolio Short Term Corporate Bond ETF Stock Performance

The company’s 50 day simple moving average is $29.96 and its 200-day simple moving average is $30.09.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SPSB. Creative Planning boosted its holdings in SPDR Portfolio Short Term Corporate Bond ETF by 7.5% in the third quarter. Creative Planning now owns 48,756,348 shares of the company’s stock worth $1,476,830,000 after purchasing an additional 3,401,784 shares during the last quarter. LPL Financial LLC raised its stake 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 valued at $284,649,000 after buying an additional 1,518,271 shares during the last quarter. Valmark Advisers Inc. lifted its holdings in shares of SPDR Portfolio Short Term Corporate Bond ETF by 4.5% during the 1st quarter. Valmark Advisers Inc. now owns 9,127,167 shares of the company’s stock valued at $274,454,000 after buying an additional 389,971 shares during the period. Morgan Stanley lifted its holdings in shares of SPDR Portfolio Short Term Corporate Bond ETF by 13.2% during the 4th quarter. Morgan Stanley now owns 8,712,343 shares of the company’s stock valued at $263,113,000 after buying an additional 1,017,975 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of SPDR Portfolio Short Term Corporate Bond ETF by 52.9% during the 1st quarter. Bank of America Corp DE now owns 7,436,338 shares of the company’s stock valued at $223,611,000 after buying an additional 2,573,239 shares during the period.

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.