SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) Trading Down 0.8% – Here’s What Happened

SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) dropped 0.8% on Thursday . The company traded as low as $28.50 and last traded at $28.56. Approximately 850,114 shares traded hands during mid-day trading, an increase of 100% from the average daily volume of 424,971 shares. The stock had previously closed at $28.79.

SPDR Portfolio Corporate Bond ETF Stock Down 0.8 %

The company has a 50 day simple moving average of $29.22 and a 200-day simple moving average of $29.32.

Institutional Trading of SPDR Portfolio Corporate Bond ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC acquired a new stake in SPDR Portfolio Corporate Bond ETF in the 2nd quarter valued at about $26,000. Creative Financial Designs Inc. ADV raised its position in shares of SPDR Portfolio Corporate Bond ETF by 638.7% in the third quarter. Creative Financial Designs Inc. ADV now owns 1,012 shares of the company’s stock valued at $30,000 after purchasing an additional 875 shares during the period. Parallel Advisors LLC acquired a new stake in SPDR Portfolio Corporate Bond ETF during the second quarter worth approximately $273,000. Private Trust Co. NA boosted its holdings in shares of SPDR Portfolio Corporate Bond ETF by 8.1% during the third quarter. Private Trust Co. NA now owns 11,125 shares of the company’s stock worth $334,000 after acquiring an additional 832 shares during the period. Finally, Farther Finance Advisors LLC grew its position in shares of SPDR Portfolio Corporate Bond ETF by 14,795.9% in the third quarter. Farther Finance Advisors LLC now owns 14,598 shares of the company’s stock valued at $438,000 after purchasing an additional 14,500 shares during the last quarter.

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.