SPDR S&P Dividend ETF (NYSEARCA:SDY) Hits New 52-Week High – Time to Buy?

SPDR S&P Dividend ETF (NYSEARCA:SDY) hit a new 52-week high during trading on Friday. The stock traded as high as $162.31 and last traded at $161.0380, with a volume of 29,725 shares traded. The stock had previously closed at $160.19.

SPDR S&P Dividend ETF Stock Performance

The company’s 50 day moving average is $153.38 and its 200 day moving average is $151.52. The stock has a market capitalization of $22.30 billion, a price-to-earnings ratio of 19.85 and a beta of 0.69.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SDY. Fifth Third Bancorp raised its stake in shares of SPDR S&P Dividend ETF by 1,558.7% during the first quarter. Fifth Third Bancorp now owns 115,078 shares of the company’s stock worth $16,794,000 after buying an additional 108,140 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of SPDR S&P Dividend ETF by 2,324.5% in the third quarter. International Assets Investment Management LLC now owns 110,000 shares of the company’s stock valued at $16,113,000 after acquiring an additional 105,463 shares during the last quarter. Benjamin Edwards Inc. boosted its holdings in shares of SPDR S&P Dividend ETF by 47.0% in the 2nd quarter. Benjamin Edwards Inc. now owns 286,769 shares of the company’s stock valued at $43,643,000 after buying an additional 91,702 shares during the last quarter. NBT Bank N.A. acquired a new position in SPDR S&P Dividend ETF during the third quarter worth approximately $11,869,000. Finally, Confluence Investment Management LLC lifted its position in SPDR S&P Dividend ETF by 92.5% during the second quarter. Confluence Investment Management LLC now owns 132,295 shares of the company’s stock worth $20,133,000 after acquiring an additional 63,585 shares during the last quarter. 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.