SPDR Bloomberg Short Term High Yield Bond ETF (NYSEARCA:SJNK) Sets New 52-Week Low – Time to Sell?

Shares of SPDR Bloomberg Short Term High Yield Bond ETF (NYSEARCA:SJNK) reached a new 52-week low on Saturday . The company traded as low as $24.20 and last traded at $24.37, with a volume of 33494875 shares trading hands. The stock had previously closed at $24.79.

SPDR Bloomberg Short Term High Yield Bond ETF Trading Down 1.7 %

The company has a market cap of $4.71 billion, a price-to-earnings ratio of 0.91 and a beta of 0.37. The stock has a 50 day moving average price of $25.36 and a two-hundred day moving average price of $25.44.

Hedge Funds Weigh In On SPDR Bloomberg Short Term High Yield Bond ETF

Several hedge funds have recently added to or reduced their stakes in SJNK. Ameriprise Financial Inc. boosted its position in shares of SPDR Bloomberg Short Term High Yield Bond ETF by 80.5% during the fourth quarter. Ameriprise Financial Inc. now owns 12,554,991 shares of the company’s stock worth $314,269,000 after purchasing an additional 5,600,323 shares in the last quarter. JPMorgan Chase & Co. raised its stake in SPDR Bloomberg Short Term High Yield Bond ETF by 56.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,719,688 shares of the company’s stock worth $44,282,000 after buying an additional 621,928 shares during the period. AMJ Financial Wealth Management bought a new position in SPDR Bloomberg Short Term High Yield Bond ETF during the fourth quarter worth about $12,408,000. OLD Mission Capital LLC acquired a new position in SPDR Bloomberg Short Term High Yield Bond ETF in the fourth quarter valued at about $3,967,000. Finally, Marshall Wace LLP increased its holdings in shares of SPDR Bloomberg Short Term High Yield Bond ETF by 117.8% in the fourth quarter. Marshall Wace LLP now owns 259,164 shares of the company’s stock worth $6,544,000 after acquiring an additional 140,164 shares in the last quarter.

About SPDR Bloomberg Short Term High Yield Bond ETF

The SPDR Bloomberg Short Term High Yield Bond ETF (SJNK) is an exchange-traded fund that mostly invests in high yield fixed income. The fund tracks a market-value-weighted index of short-term publicly issued US high yield corporate bonds, with a remaining maturity of less than five years. SJNK was launched on Mar 15, 2012 and is managed by State Street.