SPDR S&P Dividend ETF (NYSEARCA:SDY) Sets New 12-Month High – Here’s Why

SPDR S&P Dividend ETF (NYSEARCA:SDY) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $157.54 and last traded at $157.54, with a volume of 23129 shares. The stock had previously closed at $155.78.

SPDR S&P Dividend ETF Stock Performance

The firm has a market capitalization of $21.99 billion, a price-to-earnings ratio of 19.85 and a beta of 0.69. The company has a 50-day moving average price of $150.88 and a 200-day moving average price of $149.21.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of SDY. Park National Corp OH purchased a new position in SPDR S&P Dividend ETF during the 1st quarter worth $28,000. MBM Wealth Consultants LLC purchased a new stake in shares of SPDR S&P Dividend ETF during the 1st quarter worth approximately $34,000. Ankerstar Wealth LLC acquired a new stake in SPDR S&P Dividend ETF in the fourth quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in SPDR S&P Dividend ETF during the 4th quarter valued at about $34,000. Finally, Syntax Research Inc. acquired a new position in SPDR S&P Dividend ETF during the fourth quarter worth about $35,000. Institutional investors and hedge funds own 43.42% of the company’s stock.

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.