SPDR S&P Dividend ETF (NYSEARCA:SDY) Sets New 52-Week High – Here’s Why

SPDR S&P Dividend ETF (NYSEARCA:SDY)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $146.23 and last traded at $146.22, with a volume of 328553 shares traded. The stock had previously closed at $144.43.

SPDR S&P Dividend ETF Price Performance

The company has a market cap of $20.81 billion, a PE ratio of 19.85 and a beta of 0.79. The stock’s 50-day moving average is $139.95 and its 200 day moving average is $139.53.

Institutional Trading of SPDR S&P Dividend ETF

A number of institutional investors have recently made changes to their positions in SDY. First Horizon Corp acquired a new stake in shares of SPDR S&P Dividend ETF in the third quarter valued at about $5,486,000. Park Avenue Securities LLC lifted its stake in SPDR S&P Dividend ETF by 15.7% in the 2nd quarter. Park Avenue Securities LLC now owns 11,458 shares of the company’s stock valued at $1,555,000 after buying an additional 1,551 shares in the last quarter. Novem Group boosted its holdings in SPDR S&P Dividend ETF by 0.3% in the 2nd quarter. Novem Group now owns 29,191 shares of the company’s stock worth $3,962,000 after buying an additional 100 shares during the last quarter. Almanack Investment Partners LLC. acquired a new stake in SPDR S&P Dividend ETF in the 2nd quarter worth about $494,000. Finally, Johnson Investment Counsel Inc. increased its stake in SPDR S&P Dividend ETF by 2.3% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 29,255 shares of the company’s stock worth $3,971,000 after buying an additional 665 shares in the last quarter. Institutional investors and hedge funds own 43.42% of the company’s stock.

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.