SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) Hits New 52-Week Low – Should You Sell?

SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) shares hit a new 52-week low on Monday . The company traded as low as $28.36 and last traded at $28.37, with a volume of 185614 shares changing hands. The stock had previously closed at $28.42.

SPDR Portfolio Corporate Bond ETF Trading Down 0.3%

The firm’s fifty day moving average is $28.74 and its 200 day moving average is $29.02.

Institutional Investors Weigh In On SPDR Portfolio Corporate Bond ETF

Several large investors have recently made changes to their positions in the company. North Dakota State Investment Board bought a new position in shares of SPDR Portfolio Corporate Bond ETF in the 4th quarter valued at approximately $31,953,000. Ameriprise Financial Inc. boosted its position in SPDR Portfolio Corporate Bond ETF by 15.6% during the third quarter. Ameriprise Financial Inc. now owns 7,339,315 shares of the company’s stock worth $217,450,000 after purchasing an additional 988,964 shares during the period. Assetmark Inc. grew its holdings in SPDR Portfolio Corporate Bond ETF by 47.0% during the first quarter. Assetmark Inc. now owns 2,170,235 shares of the company’s stock valued at $63,002,000 after purchasing an additional 694,327 shares during the last quarter. Asset Management One Co. Ltd. acquired a new position in SPDR Portfolio Corporate Bond ETF during the fourth quarter valued at approximately $10,376,000. Finally, Hobart Private Capital LLC bought a new position in shares of SPDR Portfolio Corporate Bond ETF in the second quarter valued at approximately $8,935,000.

SPDR Portfolio Corporate Bond ETF Company Profile

The SPDR Portfolio Corporate Bond ETF (SPBO) is an exchange-traded fund that is based on the Bloomberg U.S. Corporate Bond index. The fund tracks an index of investment-grade US corporate bonds weighted in tiers by market value and issuer fundamentals. SPBO was launched on Apr 6, 2011 and is managed by State Street.