Montecito Bank & Trust Sells 25,259 Shares of SPDR Bloomberg Barclays Convertible Securities ETF (CWB)

Montecito Bank & Trust decreased its position in shares of SPDR Bloomberg Barclays Convertible Securities ETF (NYSEARCA:CWB) by 21.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 92,838 shares of the exchange traded fund’s stock after selling 25,259 shares during the period. SPDR Bloomberg Barclays Convertible Securities ETF makes up approximately 1.5% of Montecito Bank & Trust’s holdings, making the stock its 13th largest holding. Montecito Bank & Trust owned approximately 0.12% of SPDR Bloomberg Barclays Convertible Securities ETF worth $4,344,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jane Street Group LLC grew its stake 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 worth $79,381,000 after purchasing an additional 1,457,987 shares during the last quarter. Schroder Investment Management Group bought a new stake in SPDR Bloomberg Barclays Convertible Securities ETF during the 3rd quarter valued at approximately $68,688,000. Nan Shan Life Insurance Co. Ltd. purchased a new position in shares of SPDR Bloomberg Barclays Convertible Securities ETF during the third quarter valued at approximately $49,371,000. Bank of Montreal Can lifted its holdings in shares of SPDR Bloomberg Barclays Convertible Securities ETF by 26.9% during 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 lifted its holdings in shares of SPDR Bloomberg Barclays Convertible Securities ETF by 7.0% during 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.

CWB traded down $0.11 during mid-day trading on Tuesday, reaching $52.12. 1,612,523 shares of the company traded hands, compared to its average volume of 1,221,959. SPDR Bloomberg Barclays Convertible Securities ETF has a 52-week low of $45.13 and a 52-week high of $54.99.

The business also recently announced a monthly dividend, which will be paid on Thursday, March 7th. Shareholders of record on Monday, March 4th will be paid a dividend of $0.0888 per share. The ex-dividend date of this dividend is Friday, March 1st. This is a positive change from SPDR Bloomberg Barclays Convertible Securities ETF’s previous monthly dividend of $0.07. This represents a $1.07 dividend on an annualized basis and a yield of 2.04%.

Several equities analysts have recently issued reports on CWB shares. Barclays restated a “sell” rating and issued a $35.00 price objective on shares of SPDR Bloomberg Barclays Convertible Securities ETF in a report on Friday, November 16th. Scotiabank restated an “average” rating and issued a $33.00 price objective on shares of SPDR Bloomberg Barclays Convertible Securities ETF in a report on Friday, February 22nd.

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SPDR Bloomberg Barclays Convertible Securities ETF Company Profile

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: Closed-End Mutual Funds (CEFs)

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