SPDR Bloomberg Convertible Securities ETF (NYSEARCA:CWB) Sees Large Volume Increase – Here’s Why

SPDR Bloomberg Convertible Securities ETF (NYSEARCA:CWB) saw unusually-high trading volume on Thursday . Approximately 720,774 shares changed hands during mid-day trading, an increase of 32% from the previous session’s volume of 546,599 shares.The stock last traded at $80.80 and had previously closed at $80.27.

SPDR Bloomberg Convertible Securities ETF Price Performance

The company has a fifty day simple moving average of $77.23 and a two-hundred day simple moving average of $74.16.

Institutional Trading of SPDR Bloomberg Convertible Securities ETF

A number of hedge funds have recently added to or reduced their stakes in CWB. EverSource Wealth Advisors LLC boosted its stake in shares of 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 purchasing an additional 283 shares in the last quarter. ORG Partners LLC purchased a new stake in shares of SPDR Bloomberg Convertible Securities ETF during the second quarter valued at about $53,000. Future Financial Wealth Managment LLC purchased a new stake in SPDR Bloomberg Convertible Securities ETF during the third quarter valued at approximately $77,000. Oakworth Capital Inc. acquired a new stake in SPDR Bloomberg Convertible Securities ETF in the third quarter valued at approximately $92,000. Finally, Trust Co. of Vermont purchased a new position in SPDR Bloomberg Convertible Securities ETF in the third quarter worth $119,000.

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.