Sequoia Financial Advisors LLC Reduces Stock Holdings in SPDR Bloomberg High Yield Bond ETF $JNK

Sequoia Financial Advisors LLC lowered its position in SPDR Bloomberg High Yield Bond ETF (NYSEARCA:JNK) by 66.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,802 shares of the exchange traded fund’s stock after selling 57,272 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in SPDR Bloomberg High Yield Bond ETF were worth $2,802,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of JNK. Dynamic Advisor Solutions LLC purchased a new position in SPDR Bloomberg High Yield Bond ETF during the first quarter worth about $372,000. Sowell Financial Services LLC boosted its stake in SPDR Bloomberg High Yield Bond ETF by 9.0% during the first quarter. Sowell Financial Services LLC now owns 17,938 shares of the exchange traded fund’s stock worth $1,709,000 after buying an additional 1,474 shares during the period. Inscription Capital LLC purchased a new position in SPDR Bloomberg High Yield Bond ETF during the first quarter worth about $682,000. Robertson Stephens Wealth Management LLC boosted its stake in SPDR Bloomberg High Yield Bond ETF by 287.3% during the first quarter. Robertson Stephens Wealth Management LLC now owns 8,176 shares of the exchange traded fund’s stock worth $779,000 after buying an additional 6,065 shares during the period. Finally, Sterling Investment Counsel LLC boosted its stake in SPDR Bloomberg High Yield Bond ETF by 24.4% during the first quarter. Sterling Investment Counsel LLC now owns 4,093 shares of the exchange traded fund’s stock worth $390,000 after buying an additional 804 shares during the period. Hedge funds and other institutional investors own 87.54% of the company’s stock.

SPDR Bloomberg High Yield Bond ETF Price Performance

Shares of JNK stock opened at $97.34 on Thursday. The firm has a market cap of $8.18 billion, a PE ratio of 19.96 and a beta of 0.45. The company has a 50-day moving average of $97.39 and a two-hundred day moving average of $96.10. SPDR Bloomberg High Yield Bond ETF has a 1-year low of $90.40 and a 1-year high of $98.24.

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.