SPDR Barclays Capital Convertible SecETF’s (CWB) “Hold” Rating Reaffirmed at Canaccord Genuity

SPDR Barclays Capital Convertible SecETF (NYSE:CWB)‘s stock had its “hold” rating restated by research analysts at Canaccord Genuity in a research report issued on Tuesday. They currently have a $33.00 target price on the exchange traded fund’s stock. Canaccord Genuity’s price objective would suggest a potential downside of 35.86% from the stock’s current price.

SPDR Barclays Capital Convertible SecETF (NYSE:CWB) traded up 0.56% on Tuesday, reaching $51.74. The company had a trading volume of 294,809 shares. The stock’s 50 day moving average price is $51.26 and its 200-day moving average price is $50.16. SPDR Barclays Capital Convertible SecETF has a 12-month low of $44.20 and a 12-month high of $51.79.

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A number of hedge funds have recently made changes to their positions in the business. QS Investors LLC raised its position in shares of SPDR Barclays Capital Convertible SecETF by 1.5% during the 2nd quarter. QS Investors LLC now owns 3,286,318 shares of the exchange traded fund’s stock valued at $163,067,000 after buying an additional 49,216 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of SPDR Barclays Capital Convertible SecETF by 14.2% during the 2nd quarter. Wells Fargo & Company MN now owns 2,327,829 shares of the exchange traded fund’s stock valued at $115,507,000 after buying an additional 288,645 shares in the last quarter. Assetmark Inc. raised its position in shares of SPDR Barclays Capital Convertible SecETF by 7,979,744.4% during the 2nd quarter. Assetmark Inc. now owns 2,154,558 shares of the exchange traded fund’s stock valued at $106,909,000 after buying an additional 2,154,531 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of SPDR Barclays Capital Convertible SecETF by 17.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,156,434 shares of the exchange traded fund’s stock valued at $57,382,000 after buying an additional 168,681 shares in the last quarter. Finally, Prudential Financial Inc. raised its position in shares of SPDR Barclays Capital Convertible SecETF by 2.3% during the 2nd quarter. Prudential Financial Inc. now owns 804,442 shares of the exchange traded fund’s stock valued at $39,916,000 after buying an additional 18,200 shares in the last quarter.

About SPDR Barclays Capital Convertible SecETF

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.

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