SPDR Bloomberg Convertible Securities ETF (NYSEARCA:CWB) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of SPDR Bloomberg Convertible Securities ETF (NYSEARCA:CWB) saw unusually-strong trading volume on Wednesday . Approximately 874,965 shares traded hands during trading, an increase of 31% from the previous session’s volume of 668,586 shares.The stock last traded at $93.28 and had previously closed at $93.34.

SPDR Bloomberg Convertible Securities ETF Price Performance

The stock’s 50-day moving average is $90.38 and its 200-day moving average is $88.75.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. M3 Advisory Group LLC grew its position in SPDR Bloomberg Convertible Securities ETF by 1.7% during the 2nd quarter. M3 Advisory Group LLC now owns 10,267 shares of the exchange traded fund’s stock worth $849,000 after purchasing an additional 167 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in shares of SPDR Bloomberg Convertible Securities ETF in the second quarter worth $5,260,000. Elevation Capital Advisory LLC acquired a new stake in shares of SPDR Bloomberg Convertible Securities ETF in the second quarter worth $3,112,000. Commonwealth Equity Services LLC grew its holdings in shares of SPDR Bloomberg Convertible Securities ETF by 4.3% during the third quarter. Commonwealth Equity Services LLC now owns 252,425 shares of the exchange traded fund’s stock valued at $22,845,000 after buying an additional 10,483 shares in the last quarter. Finally, ST Germain D J Co. Inc. grew its holdings in shares of SPDR Bloomberg Convertible Securities ETF by 73.7% during the second quarter. ST Germain D J Co. Inc. now owns 2,143 shares of the exchange traded fund’s stock valued at $177,000 after buying an additional 909 shares in the last quarter.

About SPDR Bloomberg Convertible Securities ETF

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. Convertible Bond >$500MM Index (the Index), the Fund employs a sampling strategy, which means that the Fund is not required to purchase all of the securities represented in the Index.