Raymond James Financial Inc. Takes Position in SPDR Bloomberg High Yield Bond ETF (NYSEARCA:JNK)

Raymond James Financial Inc. bought a new position in shares of SPDR Bloomberg High Yield Bond ETF (NYSEARCA:JNK) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 279,966 shares of the exchange traded fund’s stock, valued at approximately $26,728,000.

A number of other hedge funds also recently modified their holdings of JNK. Principal Financial Group Inc. lifted its stake in shares of 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 last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of 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 last quarter. Ashton Thomas Private Wealth LLC lifted its stake in shares of SPDR Bloomberg High Yield Bond ETF by 16.0% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 3,064 shares of the exchange traded fund’s stock worth $300,000 after buying an additional 423 shares during the last quarter. Empower Advisory Group LLC lifted its stake in shares of SPDR Bloomberg High Yield Bond ETF by 4.4% during the 3rd quarter. Empower Advisory Group LLC now owns 3,846 shares of the exchange traded fund’s stock worth $376,000 after buying an additional 162 shares during the last quarter. Finally, Agilis Partners LLC lifted its stake in shares of SPDR Bloomberg High Yield Bond ETF by 8.0% during the 3rd quarter. Agilis Partners LLC now owns 26,306 shares of the exchange traded fund’s stock worth $2,572,000 after buying an additional 1,946 shares during the last quarter. Institutional investors and hedge funds own 87.54% of the company’s stock.

SPDR Bloomberg High Yield Bond ETF Stock Performance

NYSEARCA JNK opened at $95.33 on Friday. The firm has a 50-day moving average of $96.33 and a 200-day moving average of $96.53. The stock has a market cap of $8.61 billion, a PE ratio of 20.14 and a beta of 0.48. SPDR Bloomberg High Yield Bond ETF has a 52-week low of $92.47 and a 52-week high of $97.90.

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.