Summit Investment Advisors Inc. Cuts Stake in SPDR S&P Dividend ETF $SDY

Summit Investment Advisors Inc. cut its holdings in shares of SPDR S&P Dividend ETF (NYSEARCA:SDY) by 76.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,183 shares of the company’s stock after selling 69,467 shares during the quarter. Summit Investment Advisors Inc.’s holdings in SPDR S&P Dividend ETF were worth $2,874,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Garrison Point Advisors LLC increased its position in shares of SPDR S&P Dividend ETF by 1.5% during the second quarter. Garrison Point Advisors LLC now owns 5,629 shares of the company’s stock worth $764,000 after acquiring an additional 84 shares during the period. Vestmark Advisory Solutions Inc. grew its stake in SPDR S&P Dividend ETF by 55.9% during the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 4,444 shares of the company’s stock worth $603,000 after purchasing an additional 1,593 shares in the last quarter. Bryn Mawr Trust Advisors LLC purchased a new stake in SPDR S&P Dividend ETF during the 2nd quarter worth about $210,000. Headland Capital LLC purchased a new position in shares of SPDR S&P Dividend ETF in the 2nd quarter valued at about $220,000. Finally, Horan Securities Inc. acquired a new position in shares of SPDR S&P Dividend ETF during the second quarter worth about $202,000. Institutional investors and hedge funds own 43.42% of the company’s stock.

SPDR S&P Dividend ETF Stock Performance

SDY stock opened at $137.23 on Friday. The company’s 50 day moving average price is $139.22 and its 200 day moving average price is $137.41. The firm has a market capitalization of $19.73 billion, a price-to-earnings ratio of 19.85 and a beta of 0.79. SPDR S&P Dividend ETF has a fifty-two week low of $119.83 and a fifty-two week high of $144.45.

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.