SPDR Portfolio Long Term Corporate Bond ETF (NYSEARCA:SPLB) Sees Strong Trading Volume – Still a Buy?

SPDR Portfolio Long Term Corporate Bond ETF (NYSEARCA:SPLB) saw unusually-strong trading volume on Wednesday . Approximately 6,640,307 shares traded hands during trading, an increase of 436% from the previous session’s volume of 1,238,358 shares.The stock last traded at $22.12 and had previously closed at $22.37.

SPDR Portfolio Long Term Corporate Bond ETF Price Performance

The stock’s fifty day moving average is $22.43 and its 200 day moving average is $23.14.

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

Several hedge funds have recently added to or reduced their stakes in the company. Concourse Financial Group Securities Inc. boosted its holdings in SPDR Portfolio Long Term Corporate Bond ETF by 177.8% during the 4th quarter. Concourse Financial Group Securities Inc. now owns 12,307 shares of the company’s stock valued at $275,000 after acquiring an additional 7,877 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of SPDR Portfolio Long Term Corporate Bond ETF by 11.5% during the fourth quarter. JPMorgan Chase & Co. now owns 143,507 shares of the company’s stock valued at $3,190,000 after purchasing an additional 14,818 shares during the period. Graney & King LLC bought a new position in shares of SPDR Portfolio Long Term Corporate Bond ETF in the fourth quarter worth about $3,019,000. SBI Securities Co. Ltd. purchased a new position in SPDR Portfolio Long Term Corporate Bond ETF in the 4th quarter worth about $135,000. Finally, Jones Financial Companies Lllp increased its stake in SPDR Portfolio Long Term Corporate Bond ETF by 507.7% in the 4th quarter. Jones Financial Companies Lllp now owns 22,419 shares of the company’s stock worth $498,000 after buying an additional 18,730 shares during the period.

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.