Short Interest in SPDR Portfolio Intermediate Term Corporate Bond ETF (NYSEARCA:SPIB) Declines By 48.0%

SPDR Portfolio Intermediate Term Corporate Bond ETF (NYSEARCA:SPIB) was the recipient of a large decrease in short interest during the month of May. As of May 29th, there was short interest totaling 3,341,633 shares, a decrease of 48.0% from the May 14th total of 6,421,794 shares. Approximately 1.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 6,637,211 shares, the days-to-cover ratio is currently 0.5 days.

SPDR Portfolio Intermediate Term Corporate Bond ETF Price Performance

NYSEARCA:SPIB opened at $33.43 on Tuesday. The firm has a 50 day simple moving average of $33.47 and a 200-day simple moving average of $33.69. SPDR Portfolio Intermediate Term Corporate Bond ETF has a 1-year low of $33.15 and a 1-year high of $34.14.

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

A number of large investors have recently modified their holdings of SPIB. American Family Investments Inc. acquired a new stake in SPDR Portfolio Intermediate Term Corporate Bond ETF in the 2nd quarter valued at $178,108,000. Ameriprise Financial Inc. lifted its stake in shares of SPDR Portfolio Intermediate Term Corporate Bond ETF by 88.4% during the second quarter. Ameriprise Financial Inc. now owns 5,407,199 shares of the company’s stock worth $181,617,000 after purchasing an additional 2,537,710 shares in the last quarter. RMG Wealth Management LLC acquired a new position in shares of SPDR Portfolio Intermediate Term Corporate Bond ETF during the first quarter worth about $29,366,000. JPMorgan Chase & Co. boosted its position in shares of SPDR Portfolio Intermediate Term Corporate Bond ETF by 381.8% in the third quarter. JPMorgan Chase & Co. now owns 792,394 shares of the company’s stock worth $26,854,000 after buying an additional 627,933 shares during the period. Finally, Manning & Napier Advisors LLC boosted its position in shares of SPDR Portfolio Intermediate Term Corporate Bond ETF by 320.9% in the first quarter. Manning & Napier Advisors LLC now owns 628,376 shares of the company’s stock worth $21,076,000 after buying an additional 479,097 shares during the period.

SPDR Portfolio Intermediate Term Corporate Bond ETF Company Profile

The SPDR Portfolio Intermediate Term Corporate Bond ETF (SPIB) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund tracks a market-value-weighted index of investment-grade, fixed-rate taxable US corporate bonds with a maturity of at least one year, but no more than 10 years. SPIB was launched on Feb 10, 2009 and is managed by State Street.