SPDR S&P Dividend ETF (NYSEARCA:SDY) Hits New 1-Year High – Here’s Why

SPDR S&P Dividend ETF (NYSEARCA:SDY)’s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $143.74 and last traded at $143.2030, with a volume of 51239 shares trading hands. The stock had previously closed at $142.94.

SPDR S&P Dividend ETF Trading Up 0.2%

The stock has a 50 day moving average of $139.31 and a 200-day moving average of $139.23. The stock has a market capitalization of $20.46 billion, a P/E ratio of 19.85 and a beta of 0.79.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SDY. Raymond James Financial Inc. lifted its holdings in SPDR S&P Dividend ETF by 4.0% during the 2nd quarter. Raymond James Financial Inc. now owns 3,133,413 shares of the company’s stock valued at $425,298,000 after buying an additional 119,562 shares in the last quarter. Joel Isaacson & Co. LLC grew its stake in SPDR S&P Dividend ETF by 0.8% in the 3rd quarter. Joel Isaacson & Co. LLC now owns 2,667,060 shares of the company’s stock worth $373,522,000 after acquiring an additional 22,123 shares in the last quarter. UBS Group AG increased its position in shares of SPDR S&P Dividend ETF by 10.5% during the third quarter. UBS Group AG now owns 1,732,685 shares of the company’s stock worth $242,663,000 after acquiring an additional 165,053 shares during the period. JPMorgan Chase & Co. raised its stake in shares of SPDR S&P Dividend ETF by 125.3% during the second quarter. JPMorgan Chase & Co. now owns 1,451,468 shares of the company’s stock valued at $197,008,000 after acquiring an additional 7,179,596 shares in the last quarter. Finally, MAI Capital Management raised its stake in shares of SPDR S&P Dividend ETF by 0.7% during the third quarter. MAI Capital Management now owns 772,382 shares of the company’s stock valued at $108,172,000 after acquiring an additional 5,300 shares in the last quarter. 43.42% of the stock is currently owned by institutional investors.

SPDR S&P Dividend ETF Company Profile

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.