SPDR S&P Dividend ETF (NYSEARCA:SDY) Reaches New 1-Year High – Here’s Why

SPDR S&P Dividend ETF (NYSEARCA:SDY)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $144.43 and last traded at $144.22, with a volume of 39299 shares changing hands. The stock had previously closed at $143.47.

SPDR S&P Dividend ETF Trading Up 0.3 %

The business’s fifty day moving average price is $140.92 and its 200-day moving average price is $135.40. The company has a market capitalization of $22.76 billion, a P/E ratio of 19.72 and a beta of 0.68.

Institutional Investors Weigh In On SPDR S&P Dividend ETF

A number of institutional investors have recently made changes to their positions in SDY. Fifth Third Securities Inc. grew its stake in shares of SPDR S&P Dividend ETF by 7.9% during the second quarter. Fifth Third Securities Inc. now owns 12,567 shares of the company’s stock valued at $1,598,000 after buying an additional 922 shares during the last quarter. Choreo LLC lifted its position in SPDR S&P Dividend ETF by 6.7% in the second quarter. Choreo LLC now owns 20,387 shares of the company’s stock valued at $2,568,000 after purchasing an additional 1,276 shares during the last quarter. Bristlecone Advisors LLC bought a new stake in shares of SPDR S&P Dividend ETF in the second quarter worth about $199,000. Forbes Financial Planning Inc. increased its holdings in SPDR S&P Dividend ETF by 1.5% during the 2nd quarter. Forbes Financial Planning Inc. now owns 38,019 shares of the company’s stock valued at $4,835,000 after purchasing an additional 568 shares during the period. Finally, Opal Wealth Advisors LLC bought a new position in SPDR S&P Dividend ETF during the 2nd quarter valued at approximately $34,000.

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.