Prudential Financial Inc. Buys New Shares in SPDR Bloomberg High Yield Bond ETF $JNK

Prudential Financial Inc. purchased a new stake in shares of SPDR Bloomberg High Yield Bond ETF (NYSEARCA:JNK) during the second quarter, Holdings Channel reports. The firm purchased 87,780 shares of the exchange traded fund’s stock, valued at approximately $8,498,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Toews Corp ADV purchased a new position in shares of SPDR Bloomberg High Yield Bond ETF during the 2nd quarter valued at about $51,699,000. Counterpoint Mutual Funds LLC bought a new position in SPDR Bloomberg High Yield Bond ETF during the second quarter valued at approximately $45,947,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of SPDR Bloomberg High Yield Bond ETF by 10.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,723,655 shares of the exchange traded fund’s stock worth $354,458,000 after acquiring an additional 360,678 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of SPDR Bloomberg High Yield Bond ETF by 6.5% in the 2nd quarter. Assetmark Inc. now owns 5,066,020 shares of the exchange traded fund’s stock worth $492,772,000 after acquiring an additional 309,551 shares during the last quarter. Finally, Howard Capital Management Inc. purchased a new stake in shares of SPDR Bloomberg High Yield Bond ETF in the 2nd quarter valued at $24,159,000. 87.54% of the stock is currently owned by hedge funds and other institutional investors.

SPDR Bloomberg High Yield Bond ETF Stock Performance

JNK stock opened at $97.65 on Friday. The firm has a market cap of $8.17 billion, a P/E ratio of 19.96 and a beta of 0.42. The firm’s fifty day moving average is $97.26 and its 200 day moving average is $96.83. SPDR Bloomberg High Yield Bond ETF has a 52 week low of $90.40 and a 52 week high of $98.24.

SPDR Bloomberg High Yield Bond ETF Company Profile

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.