Empirical Asset Management Acquires Stake in SPDR High Yield ETF

Empirical Asset Management LLC has acquired a new stake in the SPDR Bloomberg High Yield Bond ETF (NYSEARCA:JNK) during the second quarter of 2023. According to a recent filing with the U.S. Securities and Exchange Commission, the institutional investor purchased 2,189 shares valued at approximately $213,000. This acquisition reflects a growing interest in high-yield bond investments amid current market conditions.

Several other institutional investors have also adjusted their holdings in the SPDR Bloomberg High Yield Bond ETF. Hillcrest Wealth Advisors NY LLC increased its stake by 1.6% during the first quarter, now owning 7,848 shares valued at $748,000 following the purchase of an additional 125 shares. Similarly, Pure Financial Advisors LLC raised its holdings by 1.2% in the second quarter, bringing its total to 11,438 shares, worth about $1,113,000 after acquiring an additional 136 shares.

Another notable change came from Harbour Trust & Investment Management Co, which grew its investment in the ETF by 0.6% during the first quarter. The firm now holds 25,050 shares valued at $2.387 million after purchasing an additional 147 shares. Private Trust Co. NA also increased its holdings by 3.3%, now owning 5,243 shares worth $500,000 after an additional 167 shares were acquired.

Realta Investment Advisors showed significant growth by increasing its stake by a remarkable 38.5% during the first quarter. The firm now owns 615 shares valued at $59,000 following an additional purchase of 171 shares. Together, these institutional investors now own approximately 87.54% of the SPDR Bloomberg High Yield Bond ETF.

Market Performance and Overview

On Friday, shares of the SPDR Bloomberg High Yield Bond ETF opened at $97.24. The ETF has a market capitalization of $8.17 billion, a price-to-earnings ratio of 19.96, and a beta of 0.45. Over the past year, the ETF has seen a low of $90.40 and a high of $98.24. Its 50-day moving average stands at $97.41, while the 200-day moving average is at $96.12.

The SPDR Bloomberg High Yield Bond ETF aims to provide investment results that closely match the price and yield performance of the Barclays Capital High Yield Very Liquid Index. This index includes publicly issued, U.S. dollar-denominated, non-investment-grade fixed-rate corporate bonds with a remaining maturity of at least one year. The bonds included are rated high-yield based on the middle rating from Moody’s, S&P, and Fitch and must have an outstanding face value of at least $600 million.

Investors seeking to capitalize on the potential returns from high-yield bonds may find the SPDR Bloomberg High Yield Bond ETF an attractive option, especially in the context of institutional interest and market performance.