PNC Financial Services Group Inc. Sells 22,827 Shares of SPDR S&P Dividend ETF $SDY

PNC Financial Services Group Inc. reduced its position in SPDR S&P Dividend ETF (NYSEARCA:SDY) by 4.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 460,743 shares of the company’s stock after selling 22,827 shares during the period. PNC Financial Services Group Inc. owned about 0.31% of SPDR S&P Dividend ETF worth $67,241,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Brighton Jones LLC boosted 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 valued at $2,443,000 after buying an additional 14,829 shares during the last quarter. AQR Capital Management LLC increased 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 worth $1,077,000 after buying an additional 2,627 shares in the last quarter. First Trust Advisors LP increased its holdings in SPDR S&P Dividend ETF by 30.4% in the 2nd quarter. First Trust Advisors LP now owns 32,141 shares of the company’s stock worth $4,362,000 after buying an additional 7,493 shares in the last quarter. NewEdge Advisors LLC raised its position in SPDR S&P Dividend ETF by 3.5% in the 2nd quarter. NewEdge Advisors LLC now owns 65,223 shares of the company’s stock worth $8,853,000 after buying an additional 2,192 shares during the last quarter. Finally, Raymond James Financial Inc. raised its position in SPDR S&P Dividend ETF by 4.0% in the 2nd quarter. Raymond James Financial Inc. now owns 3,133,413 shares of the company’s stock worth $425,298,000 after buying an additional 119,562 shares during the last quarter. 43.42% of the stock is owned by institutional investors.

SPDR S&P Dividend ETF Stock Performance

SDY opened at $153.92 on Friday. The stock has a market capitalization of $21.60 billion, a P/E ratio of 19.85 and a beta of 0.69. The company’s 50-day simple moving average is $151.53 and its two-hundred day simple moving average is $149.72. SPDR S&P Dividend ETF has a 52-week low of $135.30 and a 52-week high of $157.66.

SPDR S&P Dividend ETF 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.