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

Shares of SPDR S&P Dividend ETF (NYSEARCA:SDY) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $154.19 and last traded at $154.3010, with a volume of 94339 shares. The stock had previously closed at $153.00.

SPDR S&P Dividend ETF Stock Performance

The company’s 50 day moving average is $143.65 and its 200 day moving average is $140.80. The stock has a market capitalization of $21.87 billion, a price-to-earnings ratio of 19.85 and a beta of 0.79.

Institutional Investors Weigh In On SPDR S&P Dividend ETF

A number of institutional investors have recently added to or reduced their stakes in SDY. JMG Financial Group Ltd. increased its holdings in shares of SPDR S&P Dividend ETF by 186.7% during the fourth quarter. JMG Financial Group Ltd. now owns 6,176 shares of the company’s stock worth $859,000 after buying an additional 4,022 shares in the last quarter. Hazlett Burt & Watson Inc. raised its stake in shares of SPDR S&P Dividend ETF by 21.3% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 6,156 shares of the company’s stock worth $857,000 after buying an additional 1,080 shares during the last quarter. Founders Financial Securities LLC acquired a new position in shares of SPDR S&P Dividend ETF in the 4th quarter valued at $273,000. Core Wealth Advisors LLC bought a new position in SPDR S&P Dividend ETF during the fourth quarter worth about $35,000. Finally, Welch & Forbes LLC raised its position in shares of SPDR S&P Dividend ETF by 0.8% in the 4th quarter. Welch & Forbes LLC now owns 22,079 shares of the company’s stock valued at $3,073,000 after acquiring an additional 179 shares during the period. 43.42% of the stock is owned by institutional investors and hedge funds.

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.