The short interest in the SPDR Portfolio Aggregate Bond ETF (NYSEARCA:SPAB) experienced a significant increase of 32.1% in December 2023. As of December 15, the total short interest reached 818,099 shares, compared to 619,128 shares on November 30. This surge indicates that 0.2% of the ETF’s stock is currently sold short, reflecting heightened investor sentiment around the fund.
The days-to-cover ratio, which measures the time it would take to cover short positions based on trading volume, stands at 0.5 days. This figure is calculated using an average trading volume of 1,776,298 shares.
Institutional Activity in SPAB
Recent trading patterns among institutional investors reveal strategic changes in their positions within the SPDR Portfolio Aggregate Bond ETF. Notably, Peak Financial Advisors LLC established a new position in the ETF during the second quarter, valued at $238,000.
Additionally, Parallel Advisors LLC increased its stake by 15.6% during the same period, now holding 205,323 shares valued at $5,256,000 after acquiring an additional 27,747 shares.
Another significant move came from Apella Capital LLC, which boosted its holdings by 64.2%, bringing its total to 837,816 shares worth $21,214,000 after purchasing 327,649 shares recently.
Moreover, NBC Securities Inc. expanded its position by an impressive 241.8%, now owning 237,344 shares valued at $6,076,000 following the acquisition of 167,904 shares. Lastly, Balefire LLC increased its stake by 4.6%, bringing its total to 345,144 shares valued at $8,836,000.
Current Performance and Overview
As of mid-day trading on Tuesday, shares of the SPDR Portfolio Aggregate Bond ETF remained stable at $25.82. The ETF recorded a trading volume of 1,835,637 shares, which is lower than its average volume of 2,393,562.
The ETF has shown resilience with a 50-day simple moving average of $25.88 and a 200-day simple moving average of $25.71. Over the past year, the ETF’s performance has ranged from a low of $24.70 to a high of $26.16.
The SPDR Portfolio Aggregate Bond ETF, which was launched on May 23, 2007, is managed by State Street and is designed to track the Bloomberg Long U.S. Corporate Index. This ETF focuses on the aggregate market of USD-denominated investment-grade bonds that have at least one year to maturity.
Investors and analysts will continue to monitor the evolving landscape of the SPDR Portfolio Aggregate Bond ETF, particularly in light of the notable increase in short interest and shifting institutional positions.
