SPDR Bloomberg High Yield Bond ETF (NYSEARCA:JNK) Reaches New 1-Year Low – Should You Sell?

SPDR Bloomberg High Yield Bond ETF (NYSEARCA:JNK)’s share price reached a new 52-week low during trading on Saturday . The company traded as low as $92.08 and last traded at $92.45, with a volume of 27966309 shares changing hands. The stock had previously closed at $93.90.

SPDR Bloomberg High Yield Bond ETF Stock Performance

The company has a market capitalization of $7.64 billion, a PE ratio of 20.14 and a beta of 0.48. The firm’s 50-day simple moving average is $96.06 and its 200 day simple moving average is $96.36.

Institutional Investors Weigh In On SPDR Bloomberg High Yield Bond ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Valley National Advisers Inc. acquired a new position in shares of SPDR Bloomberg High Yield Bond ETF during the 4th quarter worth $29,000. Ameriflex Group Inc. acquired a new position in SPDR Bloomberg High Yield Bond ETF during the fourth quarter worth about $34,000. Creative Financial Designs Inc. ADV lifted its holdings in shares of SPDR Bloomberg High Yield Bond ETF by 38.8% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 422 shares of the exchange traded fund’s stock valued at $40,000 after purchasing an additional 118 shares in the last quarter. Realta Investment Advisors grew its position in shares of SPDR Bloomberg High Yield Bond ETF by 89.7% in the fourth quarter. Realta Investment Advisors now owns 444 shares of the exchange traded fund’s stock valued at $43,000 after purchasing an additional 210 shares during the last quarter. Finally, Transce3nd LLC purchased a new position in shares of SPDR Bloomberg High Yield Bond ETF during the 4th quarter worth approximately $53,000. 87.54% of the stock is currently owned by institutional investors and hedge funds.

About SPDR Bloomberg High Yield Bond ETF

SPDR Barclays High Yield Bond ETF (the Fund), formerly SPDR Barclays Capital High Yield Bond ETF, seeks to provide investment results that correspond to the price and yield performance of the Barclays Capital High Yield Very Liquid Index (the Index). The Index includes publicly issued United States dollar denominated, non-investment grade, fixed-rate, taxable corporate bonds that have a remaining maturity of at least one year, regardless of optionality, are rated high-yield using the middle rating of Moody’s, S&P, and Fitch, respectively, and have $600 million or more of outstanding face value.