SPDR Portfolio High Yield Bond ETF (NYSEARCA:SPHY) Sees Unusually-High Trading Volume – Still a Buy?

SPDR Portfolio High Yield Bond ETF (NYSEARCA:SPHY) saw unusually-strong trading volume on Wednesday . Approximately 5,034,452 shares changed hands during trading, an increase of 18% from the previous session’s volume of 4,283,133 shares.The stock last traded at $23.55 and had previously closed at $23.59.

SPDR Portfolio High Yield Bond ETF Stock Performance

The stock’s fifty day simple moving average is $23.66 and its two-hundred day simple moving average is $23.71. The company has a market cap of $7.71 billion, a price-to-earnings ratio of 59.88 and a beta of 0.47.

Institutional Trading of SPDR Portfolio High Yield Bond ETF

A number of institutional investors have recently modified their holdings of the company. Providence First Trust Co purchased a new stake in SPDR Portfolio High Yield Bond ETF during the fourth quarter worth approximately $47,000. OLD Point Trust & Financial Services N A acquired a new position in shares of SPDR Portfolio High Yield Bond ETF during the 4th quarter valued at $57,000. AdvisorNet Financial Inc boosted its position in SPDR Portfolio High Yield Bond ETF by 18.2% during the 4th quarter. AdvisorNet Financial Inc now owns 2,897 shares of the company’s stock worth $68,000 after purchasing an additional 447 shares during the period. Bank of Jackson Hole Trust acquired a new stake in SPDR Portfolio High Yield Bond ETF in the 4th quarter valued at $86,000. Finally, Ameriflex Group Inc. purchased a new position in SPDR Portfolio High Yield Bond ETF in the fourth quarter valued at about $97,000.

About SPDR Portfolio High Yield Bond ETF

The SPDR Portfolio High Yield Bond ETF (SPHY) is an exchange-traded fund that is based on the ICE BofA US High Yield index. The fund tracks an index that measures the performance of USD-denominated junk bonds. SPHY was launched on Jun 18, 2012 and is managed by State Street.