SPDR Bloomberg High Yield Bond ETF (NYSEARCA:JNK) Sets New 52-Week High – Still a Buy?

SPDR Bloomberg High Yield Bond ETF (NYSEARCA:JNK) reached a new 52-week high on Friday . The company traded as high as $98.00 and last traded at $98.00, with a volume of 1897 shares changing hands. The stock had previously closed at $97.14.

SPDR Bloomberg High Yield Bond ETF Trading Up 0.9 %

The firm has a 50-day moving average of $96.81 and a 200-day moving average of $95.76.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of JNK. Benjamin F. Edwards & Company Inc. boosted its position in SPDR Bloomberg High Yield Bond ETF by 83.7% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 65,488 shares of the exchange traded fund’s stock valued at $6,174,000 after acquiring an additional 29,844 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of SPDR Bloomberg High Yield Bond ETF by 3.6% during the third quarter. Janney Montgomery Scott LLC now owns 16,512 shares of the exchange traded fund’s stock valued at $1,615,000 after acquiring an additional 567 shares in the last quarter. &PARTNERS purchased a new position in SPDR Bloomberg High Yield Bond ETF in the second quarter worth about $491,000. Aletheian Wealth Advisors LLC raised its holdings in SPDR Bloomberg High Yield Bond ETF by 6.2% in the 3rd quarter. Aletheian Wealth Advisors LLC now owns 10,377 shares of the exchange traded fund’s stock worth $1,015,000 after acquiring an additional 604 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its stake in SPDR Bloomberg High Yield Bond ETF by 15.6% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 304,434 shares of the exchange traded fund’s stock valued at $28,699,000 after acquiring an additional 40,997 shares during the period. Institutional investors own 87.54% of the company’s stock.

About SPDR Bloomberg High Yield Bond ETF

SPDR Barclays High Yield Bond ETF (the Fund), formerly SPDR Barclays Capital High Yield Bond ETF, seeks to provide investment results that correspond to the price and yield performance of the Barclays Capital High Yield Very Liquid Index (the Index). The Index includes publicly issued United States dollar denominated, non-investment grade, fixed-rate, taxable corporate bonds that have a remaining maturity of at least one year, regardless of optionality, are rated high-yield using the middle rating of Moody’s, S&P, and Fitch, respectively, and have $600 million or more of outstanding face value.