Independent Advisor Alliance Makes New $539,000 Investment in SPDR Bloomberg High Yield Bond ETF (NYSEARCA:JNK)

Independent Advisor Alliance bought a new stake in SPDR Bloomberg High Yield Bond ETF (NYSEARCA:JNK) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 5,643 shares of the exchange traded fund’s stock, valued at approximately $539,000.

A number of other hedge funds have also made changes to their positions in JNK. Principal Financial Group Inc. increased its stake in SPDR Bloomberg High Yield Bond ETF by 5.8% during the 3rd quarter. Principal Financial Group Inc. now owns 15,612 shares of the exchange traded fund’s stock worth $1,527,000 after buying an additional 859 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in SPDR Bloomberg High Yield Bond ETF by 258.2% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 126,799 shares of the exchange traded fund’s stock worth $12,400,000 after buying an additional 91,400 shares during the period. Schwallier Wealth Management LLC increased its stake in SPDR Bloomberg High Yield Bond ETF by 16.5% during the 3rd quarter. Schwallier Wealth Management LLC now owns 11,268 shares of the exchange traded fund’s stock worth $1,102,000 after buying an additional 1,598 shares during the period. PNC Financial Services Group Inc. increased its stake in SPDR Bloomberg High Yield Bond ETF by 0.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 630,755 shares of the exchange traded fund’s stock worth $61,682,000 after buying an additional 4,577 shares during the period. Finally, Commerce Bank increased its stake in SPDR Bloomberg High Yield Bond ETF by 27.1% during the 3rd quarter. Commerce Bank now owns 6,005 shares of the exchange traded fund’s stock worth $587,000 after buying an additional 1,282 shares during the period. Hedge funds and other institutional investors own 87.54% of the company’s stock.

SPDR Bloomberg High Yield Bond ETF Price Performance

Shares of JNK stock opened at $95.58 on Tuesday. The firm has a market cap of $8.63 billion, a P/E ratio of 20.14 and a beta of 0.48. SPDR Bloomberg High Yield Bond ETF has a 1-year low of $92.47 and a 1-year high of $97.90. The firm has a fifty day moving average of $96.31 and a two-hundred day moving average of $96.51.

SPDR Bloomberg High Yield Bond ETF Company Profile

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.