Raymond James Financial Services Advisors Inc. Has $129 Million Holdings in SPDR S&P Dividend ETF (NYSEARCA:SDY)

Raymond James Financial Services Advisors Inc. cut its position in shares of SPDR S&P Dividend ETF (NYSEARCA:SDY) by 3.7% in the first quarter, Holdings Channel.com reports. The institutional investor owned 982,908 shares of the company’s stock after selling 37,540 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in SPDR S&P Dividend ETF were worth $128,997,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Frazier Financial Advisors LLC acquired a new stake in shares of SPDR S&P Dividend ETF during the fourth quarter valued at approximately $27,000. Friedenthal Financial acquired a new stake in SPDR S&P Dividend ETF during the 4th quarter valued at $29,000. Scarborough Advisors LLC purchased a new stake in shares of SPDR S&P Dividend ETF in the fourth quarter valued at $30,000. Farmers & Merchants Investments Inc. purchased a new stake in shares of SPDR S&P Dividend ETF in the first quarter valued at $33,000. Finally, Tennessee Valley Asset Management Partners acquired a new stake in shares of SPDR S&P Dividend ETF in the fourth quarter worth $36,000.

SPDR S&P Dividend ETF Stock Performance

NYSEARCA:SDY traded down $1.12 during trading hours on Tuesday, hitting $127.24. 290,168 shares of the company’s stock traded hands, compared to its average volume of 376,050. The stock’s fifty day moving average price is $127.70 and its two-hundred day moving average price is $123.03. The firm has a market cap of $20.24 billion, a P/E ratio of 19.41 and a beta of 0.73. SPDR S&P Dividend ETF has a twelve month low of $109.87 and a twelve month high of $131.67.

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.