SPDR Portfolio Long Term Corporate Bond ETF (NYSEARCA:SPLB) Reaches New 12-Month Low – Should You Sell?

Shares of SPDR Portfolio Long Term Corporate Bond ETF (NYSEARCA:SPLB) reached a new 52-week low during trading on Wednesday . The company traded as low as $20.92 and last traded at $20.9550, with a volume of 1605883 shares. The stock had previously closed at $21.32.

SPDR Portfolio Long Term Corporate Bond ETF Stock Performance

The stock’s 50 day moving average price is $21.42 and its 200-day moving average price is $21.97.

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

Several hedge funds and other institutional investors have recently modified their holdings of SPLB. NewEdge Advisors LLC raised its stake in shares of SPDR Portfolio Long Term Corporate Bond ETF by 0.4% in the 2nd quarter. NewEdge Advisors LLC now owns 117,759 shares of the company’s stock valued at $2,638,000 after purchasing an additional 480 shares in the last quarter. Triumph Capital Management raised its stake in shares of SPDR Portfolio Long Term Corporate Bond ETF by 31.7% in the 2nd quarter. Triumph Capital Management now owns 3,913 shares of the company’s stock worth $88,000 after buying an additional 942 shares in the last quarter. HF Advisory Group LLC lifted its holdings in shares of SPDR Portfolio Long Term Corporate Bond ETF by 6.8% in the second quarter. HF Advisory Group LLC now owns 15,418 shares of the company’s stock valued at $345,000 after buying an additional 982 shares during the period. Fifth Third Bancorp bought a new stake in shares of SPDR Portfolio Long Term Corporate Bond ETF in the 1st quarter worth approximately $31,000. Finally, Brown Lisle Cummings Inc. boosted its holdings in SPDR Portfolio Long Term Corporate Bond ETF by 146.2% during the second quarter. Brown Lisle Cummings Inc. now owns 2,472 shares of the company’s stock worth $55,000 after buying an additional 1,468 shares in the last quarter.

About SPDR Portfolio Long Term Corporate Bond ETF

The SPDR Portfolio Long Term Corporate Bond ETF (SPLB) is an exchange-traded fund that is based on the Bloomberg Long U.S. Corporate index. The fund tracks an index of investment-grade, fixed-rate, taxable US corporate bonds with a remaining maturity of at least 10 years. SPLB was launched on Mar 10, 2009 and is managed by State Street.