Summit Financial LLC Increases Stake in SPDR S&P Dividend ETF $SDY

Summit Financial LLC lifted its stake in SPDR S&P Dividend ETF (NYSEARCA:SDY) by 13.2% in the 1st quarter, HoldingsChannel.com reports. The firm owned 9,544 shares of the company’s stock after acquiring an additional 1,114 shares during the period. Summit Financial LLC’s holdings in SPDR S&P Dividend ETF were worth $1,295,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of SDY. Thurston Springer Miller Herd & Titak Inc. raised its position in SPDR S&P Dividend ETF by 350.0% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 315 shares of the company’s stock worth $43,000 after buying an additional 245 shares during the last quarter. Ameriflex Group Inc. purchased a new position in SPDR S&P Dividend ETF during the 4th quarter worth approximately $44,000. Crews Bank & Trust raised its position in SPDR S&P Dividend ETF by 98.2% during the 1st quarter. Crews Bank & Trust now owns 327 shares of the company’s stock worth $44,000 after buying an additional 162 shares during the last quarter. Briaud Financial Planning Inc purchased a new position in SPDR S&P Dividend ETF during the 1st quarter worth approximately $45,000. Finally, Garde Capital Inc. purchased a new position in SPDR S&P Dividend ETF during the 1st quarter worth approximately $52,000. 43.42% of the stock is owned by hedge funds and other institutional investors.

SPDR S&P Dividend ETF Trading Up 1.4%

SDY opened at $142.97 on Friday. SPDR S&P Dividend ETF has a 12-month low of $119.83 and a 12-month high of $144.45. The firm has a market capitalization of $20.92 billion, a PE ratio of 19.85 and a beta of 0.86. The firm has a 50 day moving average of $138.10 and a two-hundred day moving average of $135.00.

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.