SPDR Portfolio Short Term Corporate Bond ETF (NYSEARCA:SPSB) Reaches New 52-Week Low – Time to Sell?

SPDR Portfolio Short Term Corporate Bond ETF (NYSEARCA:SPSB) shares hit a new 52-week low during trading on Tuesday . The company traded as low as $29.80 and last traded at $29.81, with a volume of 172859 shares. The stock had previously closed at $29.92.

SPDR Portfolio Short Term Corporate Bond ETF Stock Up 0.1%

The stock has a fifty day moving average price of $29.92 and a two-hundred day moving average price of $30.01.

Hedge Funds Weigh In On SPDR Portfolio Short Term Corporate Bond ETF

Several institutional investors have recently modified their holdings of SPSB. Creative Planning raised its position 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 acquiring an additional 3,401,784 shares during the period. LPL Financial LLC raised its holdings in shares of SPDR Portfolio Short Term Corporate Bond ETF by 19.2% in the 4th quarter. LPL Financial LLC now owns 9,425,480 shares of the company’s stock worth $284,649,000 after purchasing an additional 1,518,271 shares during the period. Valmark Advisers Inc. raised its holdings in shares of SPDR Portfolio Short Term Corporate Bond ETF by 4.5% in the 1st quarter. Valmark Advisers Inc. now owns 9,127,167 shares of the company’s stock worth $274,454,000 after purchasing an additional 389,971 shares during the period. Morgan Stanley lifted its stake in SPDR Portfolio Short Term Corporate Bond ETF by 13.2% in the fourth quarter. Morgan Stanley now owns 8,712,343 shares of the company’s stock valued at $263,113,000 after purchasing an additional 1,017,975 shares during the last quarter. Finally, 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 valued at $223,611,000 after purchasing an additional 2,573,239 shares during the last quarter.

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.