SPDR S&P Dividend ETF (NYSEARCA:SDY) Hits New 12-Month High – Time to Buy?

SPDR S&P Dividend ETF (NYSEARCA:SDY)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $156.12 and last traded at $154.9040, with a volume of 21959 shares. The stock had previously closed at $155.25.

SPDR S&P Dividend ETF Trading Up 0.3%

The business’s fifty day moving average price is $145.77 and its 200-day moving average price is $141.58. The company has a market capitalization of $21.96 billion, a P/E ratio of 19.85 and a beta of 0.79.

Hedge Funds Weigh In On SPDR S&P Dividend ETF

Several institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in shares of SPDR S&P Dividend ETF by 125.3% during the second quarter. JPMorgan Chase & Co. now owns 1,451,468 shares of the company’s stock worth $197,008,000 after acquiring an additional 7,179,596 shares in the last quarter. Benjamin Edwards Inc. grew its holdings in shares of SPDR S&P Dividend ETF by 851.4% during the 2nd quarter. Benjamin Edwards Inc. now owns 187,705 shares of the company’s stock valued at $25,477,000 after purchasing an additional 167,975 shares during the last quarter. UBS Group AG raised its position in SPDR S&P Dividend ETF by 10.5% in the 3rd quarter. UBS Group AG now owns 1,732,685 shares of the company’s stock worth $242,663,000 after purchasing an additional 165,053 shares during the period. PNC Financial Services Group Inc. lifted its stake in SPDR S&P Dividend ETF by 35.0% in the second quarter. PNC Financial Services Group Inc. now owns 574,419 shares of the company’s stock worth $77,966,000 after purchasing an additional 148,984 shares during the last quarter. Finally, Orion Porfolio Solutions LLC boosted its position in SPDR S&P Dividend ETF by 70.0% during the second quarter. Orion Porfolio Solutions LLC now owns 349,460 shares of the company’s stock valued at $47,432,000 after buying an additional 143,853 shares during the period. 43.42% of the stock is currently owned by institutional investors.

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.