Sat Sep 07 11:52:47 UTC 2024: ## SouthState Corp Invests in Short-Term Corporate Bonds

**New York, NY – September 7, 2024** – SouthState Corp has announced its entry into the short-term corporate bond market, purchasing a new position in the SPDR Portfolio Short Term Corporate Bond ETF (SPSB) during the second quarter. The investment, totaling 2,761 shares worth approximately $82,000, reflects a growing trend of institutional investors diversifying their portfolios with short-term fixed income instruments.

SouthState Corp joins several other hedge funds that have recently adjusted their holdings in SPSB. Mechanics Financial Corp increased its stake by 9.7%, Augustine Asset Management Inc. acquired a new position, Eukles Asset Management boosted its holding by 1.3%, and IFG Advisory LLC increased its stake by 1.9%. Private Ocean LLC also entered the market with a new position valued at $146,000.

SPSB, launched in December 2009 and managed by State Street, tracks a market-value-weighted index of investment-grade U.S. corporate bonds with 1-3 years remaining in maturity. The ETF opened at $30.16 on Friday, with a 12-month low of $29.10 and a 12-month high of $30.18. The 50-day moving average price is $29.92, while the 200-day moving average price is $29.75.

Analysts attribute the recent interest in short-term corporate bonds to their potential for stable returns in a volatile market environment. The ETF’s focus on shorter maturity bonds reduces interest rate risk, making it a suitable investment for those seeking a more conservative approach.

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