SPDR Bloomberg Short Term High Yield Bond ETF (NYSEARCA:SJNK) Sees Large Drop in Short Interest

SPDR Bloomberg Short Term High Yield Bond ETF (NYSEARCA:SJNK) saw a significant drop in short interest during the month of June. As of June 15th, there was short interest totaling 1,405,193 shares, a drop of 43.9% from the May 31st total of 2,506,966 shares. Approximately 0.7% of the shares of the company are sold short. Based on an average daily trading volume, of 2,751,308 shares, the days-to-cover ratio is presently 0.5 days.

SPDR Bloomberg Short Term High Yield Bond ETF Trading Up 0.1%

NYSEARCA SJNK traded up $0.02 during trading hours on Thursday, hitting $24.93. 1,834,618 shares of the company’s stock traded hands, compared to its average volume of 3,561,771. SPDR Bloomberg Short Term High Yield Bond ETF has a 52 week low of $24.72 and a 52 week high of $25.65. The firm has a market capitalization of $4.86 billion, a P/E ratio of 0.90 and a beta of 0.29. The business’s fifty day moving average price is $25.03 and its two-hundred day moving average price is $25.15.

Institutional Investors Weigh In On SPDR Bloomberg Short Term High Yield Bond ETF

A number of hedge funds have recently modified their holdings of the business. NewEdge Advisors LLC raised its holdings in SPDR Bloomberg Short Term High Yield Bond ETF by 1.4% in the 1st quarter. NewEdge Advisors LLC now owns 33,319 shares of the company’s stock worth $838,000 after purchasing an additional 469 shares during the period. Franklin Resources Inc. bought a new stake in SPDR Bloomberg Short Term High Yield Bond ETF during the second quarter valued at about $36,000. Peapack Gladstone Financial Corp increased its position in SPDR Bloomberg Short Term High Yield Bond ETF by 6.1% in the second quarter. Peapack Gladstone Financial Corp now owns 27,510 shares of the company’s stock worth $701,000 after buying an additional 1,585 shares in the last quarter. Bank of America Corp DE increased its position in SPDR Bloomberg Short Term High Yield Bond ETF by 11.5% in the second quarter. Bank of America Corp DE now owns 2,789,991 shares of the company’s stock worth $71,089,000 after buying an additional 287,647 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in shares of SPDR Bloomberg Short Term High Yield Bond ETF by 15.9% in the second quarter. Smartleaf Asset Management LLC now owns 3,784 shares of the company’s stock worth $96,000 after buying an additional 519 shares during the period.

About SPDR Bloomberg Short Term High Yield Bond ETF

The SPDR Bloomberg Short Term High Yield Bond ETF (SJNK) is an exchange-traded fund that mostly invests in high yield fixed income. The fund tracks a market-value-weighted index of short-term publicly issued US high yield corporate bonds, with a remaining maturity of less than five years. SJNK was launched on Mar 15, 2012 and is managed by State Street.