Kingsview Wealth Management LLC has decreased its stake in the SPDR Bloomberg High Yield Bond ETF (NYSEARCA:JNK) by 1.1% during the second quarter of 2023. According to its latest 13F filing with the Securities and Exchange Commission, the firm now holds 60,344 shares of the exchange-traded fund after selling 667 shares during this period. As of the most recent reporting, Kingsview’s investment in the ETF is valued at approximately $5.87 million, representing about 0.07% of the total fund.
Other institutional investors have also made adjustments to their holdings in the SPDR Bloomberg High Yield Bond ETF. Notably, CNO Financial Group Inc. acquired a new stake in the ETF during the second quarter, investing around $10.26 million. Meanwhile, Geneos Wealth Management Inc. increased its holdings by 30% in the first quarter, bringing its total to 21,204 shares valued at $2.02 million after purchasing an additional 4,895 shares.
Additional investments include Ameritas Advisory Services LLC, which acquired a new stake worth $60,000, and Cordatus Wealth Management LLC, which grew its holdings by an impressive 123.4% during the first quarter, now owning 12,083 shares valued at $1.15 million. Parallel Advisors LLC also expanded its investment by 34.6% during the second quarter, now holding 2,536 shares worth $247,000. Currently, institutional investors and hedge funds own approximately 87.54% of the ETF.
Market Performance and ETF Overview
On Monday, shares of the SPDR Bloomberg High Yield Bond ETF opened at $96.63. The ETF’s 50-day moving average stands at $97.41, while the 200-day moving average is $96.70. The fund boasts a market capitalization of $8.09 billion, a price-to-earnings ratio of 19.96, and a beta of 0.42. Over the past year, the ETF has fluctuated between a low of $90.40 and a high of $98.24.
The SPDR Bloomberg High Yield Bond ETF aims to replicate the performance of the Barclays Capital High Yield Very Liquid Index. This index includes publicly issued, U.S. dollar-denominated, non-investment grade, fixed-rate, taxable corporate bonds that have a remaining maturity of at least one year. These bonds are rated high-yield based on the median ratings from Moody’s, S&P, and Fitch, and must have a minimum outstanding face value of $600 million.
For those interested in tracking further investments or holdings in the SPDR Bloomberg High Yield Bond ETF, resources such as HoldingsChannel.com provide updates on 13F filings and insider trades related to the ETF. Investors can also subscribe to daily summaries of news and analyst ratings for the ETF and related companies through MarketBeat.com’s free newsletter.
