SPDR Portfolio S&P 500 ETF (NYSEARCA:SPLG) Hits New 1-Year High – Time to Buy?

SPDR Portfolio S&P 500 ETF (NYSEARCA:SPLG) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $78.74 and last traded at $78.68, with a volume of 9010780 shares traded. The stock had previously closed at $78.30.

SPDR Portfolio S&P 500 ETF Stock Performance

The stock has a market capitalization of $83.51 billion, a price-to-earnings ratio of 25.61 and a beta of 1.00. The company has a fifty day simple moving average of $75.53 and a 200 day simple moving average of $70.36.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SPLG. Bank of America Corp DE lifted its holdings in SPDR Portfolio S&P 500 ETF by 88.5% during the 2nd quarter. Bank of America Corp DE now owns 59,401,970 shares of the company’s stock worth $4,317,929,000 after buying an additional 27,889,948 shares during the period. USS Investment Management Ltd acquired a new position in SPDR Portfolio S&P 500 ETF during the 1st quarter worth about $1,394,006,000. Jones Financial Companies Lllp lifted its holdings in SPDR Portfolio S&P 500 ETF by 99.4% during the 1st quarter. Jones Financial Companies Lllp now owns 31,074,010 shares of the company’s stock worth $2,031,308,000 after buying an additional 15,489,573 shares during the period. Kedalion Capital Management LLP acquired a new position in SPDR Portfolio S&P 500 ETF during the 2nd quarter worth about $509,875,000. Finally, Allianz Asset Management GmbH lifted its holdings in SPDR Portfolio S&P 500 ETF by 38.6% during the 1st quarter. Allianz Asset Management GmbH now owns 12,846,198 shares of the company’s stock worth $844,766,000 after buying an additional 3,577,176 shares during the period.

About SPDR Portfolio S&P 500 ETF

SPDR Russell 1000 ETF (the Fund), formerly SPDR Dow Jones Large Cap ETF, seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index that tracks the performance of large capitalization exchange traded the United States equity securities.