SPDR Portfolio Short Term Corporate Bond ETF (NYSEARCA:SPSB) Hits New 1-Year Low – Here’s What Happened

SPDR Portfolio Short Term Corporate Bond ETF (NYSEARCA:SPSB) shares hit a new 52-week low on Wednesday. The stock traded as low as $29.64 and last traded at $29.6350, with a volume of 263653 shares traded. The stock had previously closed at $29.69.

SPDR Portfolio Short Term Corporate Bond ETF Stock Performance

The stock’s 50 day moving average is $29.85 and its 200-day moving average is $29.95.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. LPL Financial LLC increased its position in shares of 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 purchasing an additional 1,518,271 shares during the last quarter. Valmark Advisers Inc. lifted its position in SPDR Portfolio Short Term Corporate Bond ETF by 4.5% in the first quarter. Valmark Advisers Inc. now owns 9,127,167 shares of the company’s stock worth $274,454,000 after buying an additional 389,971 shares during the last quarter. Bank of America Corp DE boosted its stake in SPDR Portfolio Short Term Corporate Bond ETF by 52.9% during the first quarter. Bank of America Corp DE now owns 7,436,338 shares of the company’s stock worth $223,611,000 after buying an additional 2,573,239 shares during the period. Baird Financial Group Inc. boosted its stake in SPDR Portfolio Short Term Corporate Bond ETF by 11.1% during the second quarter. Baird Financial Group Inc. now owns 6,659,159 shares of the company’s stock worth $199,841,000 after buying an additional 663,851 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in SPDR Portfolio Short Term Corporate Bond ETF by 11.2% during the second quarter. Envestnet Asset Management Inc. now owns 5,899,175 shares of the company’s stock valued at $177,034,000 after acquiring an additional 593,008 shares during the last quarter.

SPDR Portfolio Short Term Corporate Bond ETF Company Profile

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.