SPDR S&P Dividend ETF (NYSEARCA:SDY) Hits New 12-Month 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 Thursday. The company traded as high as $166.27 and last traded at $166.3210, with a volume of 16,203 shares traded. The stock had previously closed at $165.03.

SPDR S&P Dividend ETF Stock Performance

The company has a market cap of $24.28 billion, a PE ratio of 19.85 and a beta of 0.67. The firm has a fifty day simple moving average of $153.70 and a 200 day simple moving average of $151.86.

Institutional Investors Weigh In On SPDR S&P Dividend ETF

Several hedge funds have recently modified their holdings of the stock. Simplex Trading LLC bought a new stake in shares of SPDR S&P Dividend ETF in the 3rd quarter worth about $42,000. AlphaCore Capital LLC lifted its position in shares of SPDR S&P Dividend ETF by 4.4% during the third quarter. AlphaCore Capital LLC now owns 384,741 shares of the company’s stock worth $56,357,000 after purchasing an additional 16,067 shares during the last quarter. Syntax Research Inc. grew its stake in SPDR S&P Dividend ETF by 407.6% in the third quarter. Syntax Research Inc. now owns 2,538 shares of the company’s stock worth $372,000 after purchasing an additional 2,038 shares in the last quarter. Avion Wealth grew its stake in SPDR S&P Dividend ETF by 50.4% in the third quarter. Avion Wealth now owns 373 shares of the company’s stock worth $54,000 after purchasing an additional 125 shares in the last quarter. Finally, M Holdings Securities Inc. acquired a new position in SPDR S&P Dividend ETF in the third quarter worth about $408,000. 43.42% of the stock is owned by institutional investors and hedge funds.

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.