Institutional Investors Increase Stakes in High Yield Bond ETF
What happened
Eastern Bank purchased a new stake in shares of SPDR Bloomberg High Yield Bond ETF during the third quarter, valued at approximately $35,000. Separately, Sowell Financial Services LLC bought 37,578 shares of the ETF in the third quarter, a position valued at approximately $3,485,000. Other investors, including Brown Lisle Cummings Inc., Toth Financial Advisory Corp, Ascentis Independent Advisors, and NFSG Corp, have also recently acquired or increased holdings in the ETF.
From themarketsdaily.com
Why it matters
The increased buying activity by institutional investors in the SPDR Bloomberg High Yield Bond ETF suggests continued interest in the high-yield bond market. Currently, 87.54% of the ETF's stock is owned by hedge funds and other institutional investors.
Institutional investors are actively buying and raising stakes in the SPDR Bloomberg High Yield Bond ETF.
From themarketsdaily.com