SPDR Portfolio High Yield Bond ETF (NYSEARCA:SPHY) Sees Large Decrease in Short Interest

SPDR Portfolio High Yield Bond ETF (NYSEARCA:SPHY) was the recipient of a large drop in short interest during the month of March. As of March 13th, there was short interest totaling 3,842,646 shares, a drop of 35.7% from the February 26th total of 5,979,671 shares. Approximately 0.9% of the company’s shares are sold short. Based on an average trading volume of 6,715,633 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Bank of America Corp DE lifted its stake in shares of SPDR Portfolio High Yield Bond ETF by 10.5% during the 3rd quarter. Bank of America Corp DE now owns 44,649,901 shares of the company’s stock worth $1,068,919,000 after acquiring an additional 4,256,596 shares during the last quarter. Sei Investments Co. grew its position in SPDR Portfolio High Yield Bond ETF by 6.3% in the 3rd quarter. Sei Investments Co. now owns 17,822,858 shares of the company’s stock valued at $426,678,000 after acquiring an additional 1,053,670 shares during the last quarter. LPL Financial LLC grew its position in SPDR Portfolio High Yield Bond ETF by 12.3% in the 4th quarter. LPL Financial LLC now owns 8,802,613 shares of the company’s stock valued at $208,358,000 after acquiring an additional 967,530 shares during the last quarter. Ameriprise Financial Inc. increased its stake in SPDR Portfolio High Yield Bond ETF by 34.6% in the third quarter. Ameriprise Financial Inc. now owns 8,686,741 shares of the company’s stock worth $207,971,000 after purchasing an additional 2,232,954 shares during the period. Finally, Vantagepoint Investment Advisers LLC increased its stake in SPDR Portfolio High Yield Bond ETF by 1.3% in the third quarter. Vantagepoint Investment Advisers LLC now owns 7,564,670 shares of the company’s stock worth $181,098,000 after purchasing an additional 95,000 shares during the period.

SPDR Portfolio High Yield Bond ETF Stock Performance

Shares of NYSEARCA:SPHY opened at $23.06 on Monday. The company has a market capitalization of $10.20 billion, a price-to-earnings ratio of 7.31 and a beta of 0.39. SPDR Portfolio High Yield Bond ETF has a 12 month low of $22.21 and a 12 month high of $23.99. The firm’s 50-day moving average is $23.58 and its 200 day moving average is $23.69.

SPDR Portfolio High Yield Bond ETF Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Thursday, March 5th. Shareholders of record on Monday, March 2nd were given a dividend of $0.1396 per share. This represents a c) annualized dividend and a dividend yield of 7.3%. This is a boost from SPDR Portfolio High Yield Bond ETF’s previous monthly dividend of $0.14. The ex-dividend date was Monday, March 2nd.

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.