SPDR S&P Dividend ETF (NYSEARCA:SDY) Sees Large Volume Increase – Here’s Why

SPDR S&P Dividend ETF (NYSEARCA:SDY) shares saw strong trading volume on Friday . 1,251,010 shares changed hands during trading, an increase of 257% from the previous session’s volume of 350,282 shares.The stock last traded at $129.13 and had previously closed at $130.84.

SPDR S&P Dividend ETF Stock Down 1.6 %

The firm’s fifty day simple moving average is $137.58 and its 200-day simple moving average is $136.83. The company has a market cap of $20.37 billion, a PE ratio of 19.72 and a beta of 0.68.

Hedge Funds Weigh In On SPDR S&P Dividend ETF

Institutional investors have recently made changes to their positions in the stock. Oppenheimer & Co. Inc. boosted its position in SPDR S&P Dividend ETF by 0.3% during the second quarter. Oppenheimer & Co. Inc. now owns 48,043 shares of the company’s stock worth $6,110,000 after acquiring an additional 122 shares during the last quarter. Thoroughbred Financial Services LLC grew its position in shares of SPDR S&P Dividend ETF by 17.7% in the second quarter. Thoroughbred Financial Services LLC now owns 9,162 shares of the company’s stock valued at $1,165,000 after purchasing an additional 1,376 shares during the period. Prime Capital Investment Advisors LLC increased its stake in SPDR S&P Dividend ETF by 3.9% in the second quarter. Prime Capital Investment Advisors LLC now owns 30,814 shares of the company’s stock valued at $3,919,000 after purchasing an additional 1,162 shares during the last quarter. Tennessee Valley Asset Management Partners purchased a new position in SPDR S&P Dividend ETF during the second quarter worth about $330,000. Finally, Black Diamond Financial LLC boosted its stake in SPDR S&P Dividend ETF by 500.3% in the 2nd quarter. Black Diamond Financial LLC now owns 43,147 shares of the company’s stock worth $5,487,000 after buying an additional 35,959 shares during the last quarter.

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.