Sumitomo Mitsui DS Asset Management Company Ltd has increased its holdings in the SPDR Bloomberg High Yield Bond ETF (NYSEARCA:JNK) by 15.7% during the third quarter of 2023. The firm now owns 525,455 shares, having added an additional 71,153 shares during the quarter, bringing the value of its investment to approximately $51,489,000.
Several other institutional investors have also adjusted their positions in the SPDR Bloomberg High Yield Bond ETF. Notably, Gallagher Fiduciary Advisors LLC made a significant leap, increasing its stake by an astonishing 9,700.8% in the second quarter. This firm now holds 2,657,493 shares, valued at about $258,494,000, after purchasing an additional 2,630,378 shares.
State Street Corp has also ramped up its investment, increasing its stake by 19.9%. Following this adjustment, it now owns 11,085,683 shares worth $1,078,304,000, having acquired an extra 1,842,852 shares in the latest quarter.
Meanwhile, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp entered the market with a new stake valued at $118,767,000 in the second quarter. Osaic Holdings Inc. boosted its position by 218.3%, bringing its total to 1,095,736 shares valued at $104,919,000. Toews Corp ADV also acquired a new position worth approximately $51,699,000. Collectively, hedge funds and institutional investors hold around 87.54% of the ETF’s stock.
SPDR JNK Price Performance
As of the latest trading session, shares of the SPDR Bloomberg High Yield Bond ETF opened at $97.69. The ETF has experienced a year marked by volatility, with a low of $90.40 and a high of $98.24. The fund boasts a market capitalization of $7.67 billion, with a price-to-earnings ratio of 19.96 and a beta of 0.42. Its 50-day moving average stands at $97.08, while the 200-day moving average is $97.15.
The SPDR Bloomberg High Yield Bond ETF, formerly known as SPDR Barclays High Yield Bond ETF, aims to mirror the price and yield performance of the Barclays Capital High Yield Very Liquid Index. This index comprises publicly issued, U.S. dollar-denominated, non-investment grade, fixed-rate, taxable corporate bonds with a minimum remaining maturity of one year. These bonds must also be rated as high-yield by the middle rating of Moody’s, S&P, and Fitch, and have an outstanding face value of at least $600 million.
For those interested in tracking institutional investment trends, detailed data on hedge fund holdings and insider trades for the SPDR Bloomberg High Yield Bond ETF can be found on platforms like Holdings Channel.
