SPDR S&P Dividend ETF (NYSEARCA:SDY) Reaches New 12-Month High – What’s Next?

SPDR S&P Dividend ETF (NYSEARCA:SDY) shares reached a new 52-week high on Thursday. The company traded as high as $166.27 and last traded at $166.3210, with a volume of 16,203 shares traded. The stock had previously closed at $165.03.

SPDR S&P Dividend ETF Stock Performance

The company has a market capitalization of $22.26 billion, a price-to-earnings ratio of 19.85 and a beta of 0.67. The firm has a fifty day moving average price of $153.85 and a 200-day moving average price of $152.02.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SDY. Fifth Third Bancorp increased its stake in shares of SPDR S&P Dividend ETF by 1,558.7% in the first quarter. Fifth Third Bancorp now owns 115,078 shares of the company’s stock valued at $16,794,000 after buying an additional 108,140 shares during the period. Associated Banc Corp bought a new position in shares of SPDR S&P Dividend ETF in the 3rd quarter worth about $15,501,000. International Assets Investment Management LLC lifted its stake in shares of SPDR S&P Dividend ETF by 2,324.5% in the 3rd quarter. International Assets Investment Management LLC now owns 110,000 shares of the company’s stock valued at $16,113,000 after purchasing an additional 105,463 shares during the period. Benjamin Edwards Inc. lifted its stake in shares of SPDR S&P Dividend ETF by 47.0% in the 2nd quarter. Benjamin Edwards Inc. now owns 286,769 shares of the company’s stock valued at $43,643,000 after purchasing an additional 91,702 shares during the period. Finally, NBT Bank N.A. bought a new stake in shares of SPDR S&P Dividend ETF during the 3rd quarter valued at about $11,869,000. 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.