Consumer Discretionary SPDR (XLY) Position Trimmed by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. trimmed its position in Consumer Discretionary SPDR (NYSE:XLY) by 26.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,137 shares of the exchange traded fund’s stock after selling 2,504 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Consumer Discretionary SPDR were worth $640,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. Fernwood Investment Management LLC increased its stake in Consumer Discretionary SPDR by 1.9% during the second quarter. Fernwood Investment Management LLC now owns 2,682 shares of the exchange traded fund’s stock worth $240,000 after acquiring an additional 50 shares during the last quarter. California Capital Advisors Inc. grew its stake in shares of Consumer Discretionary SPDR by 1.5% during the second quarter. California Capital Advisors Inc. now owns 4,819 shares of the exchange traded fund’s stock valued at $432,000 after buying an additional 69 shares during the last quarter. Merriman Wealth Management LLC grew its stake in shares of Consumer Discretionary SPDR by 3.1% during the second quarter. Merriman Wealth Management LLC now owns 2,846 shares of the exchange traded fund’s stock valued at $255,000 after buying an additional 85 shares during the last quarter. NewSquare Capital LLC grew its stake in shares of Consumer Discretionary SPDR by 0.8% during the second quarter. NewSquare Capital LLC now owns 15,177 shares of the exchange traded fund’s stock valued at $1,360,000 after buying an additional 125 shares during the last quarter. Finally, Smith Salley & Associates grew its stake in shares of Consumer Discretionary SPDR by 0.9% during the second quarter. Smith Salley & Associates now owns 14,835 shares of the exchange traded fund’s stock valued at $1,330,000 after buying an additional 133 shares during the last quarter.

Consumer Discretionary SPDR (XLY) opened at 89.54 on Friday. Consumer Discretionary SPDR has a 1-year low of $76.61 and a 1-year high of $92.55. The stock’s 50 day moving average price is $89.76 and its 200-day moving average price is $89.36.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 25th. Stockholders of record on Monday, September 18th will be given a $0.318 dividend. The ex-dividend date is Friday, September 15th. This represents a $1.27 annualized dividend and a dividend yield of 1.42%. This is a positive change from Consumer Discretionary SPDR’s previous quarterly dividend of $0.27.

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Consumer Discretionary SPDR Profile

Consumer Discretionary Select Sector SPDR Fund seeks to provide investment results that correspond generally to the price and yield performance of the Consumer Discretionary Select Sector Index (the Index). The Index includes companies from the following industries, media; retail (specialty, multiline, Internet and catalog); hotels, restaurants and leisure; textiles, apparel and luxury goods; household durables; automobiles; auto components; distributors; leisure equipment and products; and diversified consumer services.

Institutional Ownership by Quarter for Consumer Discretionary SPDR (NYSE:XLY)

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