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Investors sold shares of SPDR Bloomberg Barclays Convertible Securities ETF (NYSEARCA:CWB) on strength during trading hours on Monday. $8.88 million flowed into the stock on the tick-up and $42.41 million flowed out of the stock on the tick-down, for a money net flow of $33.53 million out of the stock. Of all stocks tracked, SPDR Bloomberg Barclays Convertible Securities ETF had the 25th highest net out-flow for the day. SPDR Bloomberg Barclays Convertible Securities ETF traded up $0.09 for the day and closed at $50.99
Separately, Barclays reissued an “average” rating and set a $27.00 price objective on shares of SPDR Bloomberg Barclays Convertible Securities ETF in a research note on Friday, December 7th.
The firm also recently disclosed a monthly dividend, which was paid on Thursday, February 7th. Stockholders of record on Monday, February 4th were issued a $0.0714 dividend. The ex-dividend date of this dividend was Friday, February 1st. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.68%.
Several hedge funds and other institutional investors have recently bought and sold shares of CWB. Jane Street Group LLC raised its holdings in shares of SPDR Bloomberg Barclays Convertible Securities ETF by 10,667.9% in the third quarter. Jane Street Group LLC now owns 1,471,654 shares of the exchange traded fund’s stock valued at $79,381,000 after purchasing an additional 1,457,987 shares during the last quarter. Schroder Investment Management Group acquired a new stake in shares of SPDR Bloomberg Barclays Convertible Securities ETF in the third quarter valued at approximately $68,688,000. Nan Shan Life Insurance Co. Ltd. acquired a new stake in shares of SPDR Bloomberg Barclays Convertible Securities ETF in the third quarter valued at approximately $49,371,000. Bank of Montreal Can raised its holdings in shares of SPDR Bloomberg Barclays Convertible Securities ETF by 26.9% in the third quarter. Bank of Montreal Can now owns 1,658,375 shares of the exchange traded fund’s stock valued at $89,452,000 after purchasing an additional 351,711 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of SPDR Bloomberg Barclays Convertible Securities ETF by 7.0% in the third quarter. Wells Fargo & Company MN now owns 3,435,548 shares of the exchange traded fund’s stock valued at $185,314,000 after purchasing an additional 224,097 shares during the last quarter.
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SPDR Bloomberg Barclays Convertible Securities ETF Company Profile (NYSEARCA:CWB)
SPDR Barclays Convertible Securities ETF, formerly SPDR Barclays Capital Convertible Securities ETF, seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of an index that tracks United States convertible securities. In seeking to track the performance of the Barclays Capital U.S.
Further Reading: How to execute a trade ex-dividend strategy?
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