SPDR Bloomberg Convertible Securities ETF (NYSEARCA:CWB) Reaches New 12-Month High – Still a Buy?

SPDR Bloomberg Convertible Securities ETF (NYSEARCA:CWB)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $81.77 and last traded at $81.60, with a volume of 83385 shares changing hands. The stock had previously closed at $81.12.

SPDR Bloomberg Convertible Securities ETF Trading Down 0.4 %

The stock’s fifty day moving average price is $77.51 and its 200 day moving average price is $74.34.

Institutional Trading of SPDR Bloomberg Convertible Securities ETF

A number of hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC raised its stake in SPDR Bloomberg Convertible Securities ETF by 291.8% during the first quarter. EverSource Wealth Advisors LLC now owns 380 shares of the exchange traded fund’s stock valued at $27,000 after buying an additional 283 shares during the last quarter. Kingswood Wealth Advisors LLC boosted its stake in SPDR Bloomberg Convertible Securities ETF by 97.0% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 12,404 shares of the exchange traded fund’s stock worth $894,000 after purchasing an additional 6,109 shares in the last quarter. Burke & Herbert Bank & Trust Co. purchased a new stake in SPDR Bloomberg Convertible Securities ETF during the 2nd quarter valued at about $273,000. ORG Partners LLC bought a new stake in SPDR Bloomberg Convertible Securities ETF during the 2nd quarter valued at about $53,000. Finally, First Heartland Consultants Inc. raised its holdings in SPDR Bloomberg Convertible Securities ETF by 49.7% in the second quarter. First Heartland Consultants Inc. now owns 5,622 shares of the exchange traded fund’s stock worth $405,000 after buying an additional 1,867 shares during 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.