SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) Sees Large Volume Increase – Still a Buy?

SPDR Portfolio Corporate Bond ETF (NYSEARCA:SPBO) shares saw unusually-high trading volume on Tuesday . Approximately 351,914 shares were traded during trading, a decline of 7% from the previous session’s volume of 376,812 shares.The stock last traded at $29.30 and had previously closed at $29.30.

SPDR Portfolio Corporate Bond ETF Trading Down 0.3 %

The stock’s 50-day moving average is $29.79 and its 200 day moving average is $29.13.

Institutional Investors Weigh In On SPDR Portfolio Corporate Bond ETF

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC acquired a new stake in shares of SPDR Portfolio Corporate Bond ETF in the second quarter worth about $26,000. Richardson Financial Services Inc. acquired a new position in SPDR Portfolio Corporate Bond ETF during the first quarter valued at approximately $35,000. Parallel Advisors LLC acquired a new position in SPDR Portfolio Corporate Bond ETF during the second quarter valued at approximately $273,000. Sanibel Captiva Trust Company Inc. bought a new position in shares of SPDR Portfolio Corporate Bond ETF in the third quarter valued at approximately $901,000. Finally, Eldridge Investment Advisors Inc. lifted its stake in shares of SPDR Portfolio Corporate Bond ETF by 11.9% in the second quarter. Eldridge Investment Advisors Inc. now owns 120,455 shares of the company’s stock worth $3,457,000 after buying an additional 12,815 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.