SPDR S&P Dividend ETF (NYSEARCA:SDY) Reaches New 1-Year High – Here’s Why
by Kim Johansen · The Markets DailySPDR S&P Dividend ETF (NYSEARCA:SDY – Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $147.27 and last traded at $147.0840, with a volume of 276916 shares changing hands. The stock had previously closed at $145.32.
SPDR S&P Dividend ETF Stock Up 1.2%
The firm has a market cap of $20.88 billion, a price-to-earnings ratio of 19.85 and a beta of 0.79. The company’s 50-day moving average price is $140.67 and its 200-day moving average price is $139.77.
Institutional Investors Weigh In On SPDR S&P Dividend ETF
Large investors have recently bought and sold shares of the company. Brighton Jones LLC increased its position in shares of SPDR S&P Dividend ETF by 404.5% during the fourth quarter. Brighton Jones LLC now owns 18,495 shares of the company’s stock worth $2,443,000 after purchasing an additional 14,829 shares in the last quarter. AQR Capital Management LLC lifted its holdings in SPDR S&P Dividend ETF by 49.5% in the 1st quarter. AQR Capital Management LLC now owns 7,936 shares of the company’s stock valued at $1,077,000 after purchasing an additional 2,627 shares in the last quarter. Park Avenue Securities LLC boosted its stake in SPDR S&P Dividend ETF by 15.7% during the 2nd quarter. Park Avenue Securities LLC now owns 11,458 shares of the company’s stock worth $1,555,000 after purchasing an additional 1,551 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of SPDR S&P Dividend ETF by 14.4% during the second quarter. GAMMA Investing LLC now owns 2,660 shares of the company’s stock worth $361,000 after buying an additional 334 shares in the last quarter. Finally, AdvisorNet Financial Inc raised its position in shares of SPDR S&P Dividend ETF by 52.3% in the second quarter. AdvisorNet Financial Inc now owns 1,942 shares of the company’s stock valued at $264,000 after buying an additional 667 shares during the last quarter. 43.42% of the stock is currently owned by hedge funds and other institutional investors.
About SPDR S&P Dividend ETF
The SPDR S&P Dividend ETF seeks to closely match the returns and characteristics of the S&P High Yield Dividend Aristocrats Index (the Index). The Index is designed to measure the performance of the 60 highest dividend yielding S&P Composite 1500 Index constituents that have followed a managed-dividends policy of consistently increasing dividends every year for at least 25 consecutive years. The Fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the Index.