Merit Financial Group LLC Sells 3,251 Shares of SPDR S&P Dividend ETF $SDY

Merit Financial Group LLC cut its stake in shares of SPDR S&P Dividend ETF (NYSEARCA:SDY) by 6.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,267 shares of the company’s stock after selling 3,251 shares during the quarter. Merit Financial Group LLC’s holdings in SPDR S&P Dividend ETF were worth $6,900,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its stake in shares of SPDR S&P Dividend ETF by 125.3% during the second quarter. JPMorgan Chase & Co. now owns 1,451,468 shares of the company’s stock worth $197,008,000 after buying an additional 7,179,596 shares during the last quarter. Benjamin Edwards Inc. boosted its holdings in shares of SPDR S&P Dividend ETF by 851.4% during the 2nd quarter. Benjamin Edwards Inc. now owns 187,705 shares of the company’s stock valued at $25,477,000 after acquiring an additional 167,975 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in SPDR S&P Dividend ETF by 35.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 574,419 shares of the company’s stock worth $77,966,000 after purchasing an additional 148,984 shares in the last quarter. Orion Porfolio Solutions LLC increased its holdings in SPDR S&P Dividend ETF by 70.0% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 349,460 shares of the company’s stock worth $47,432,000 after purchasing an additional 143,853 shares in the last quarter. Finally, Raymond James Financial Inc. raised its position in SPDR S&P Dividend ETF by 4.0% in the second quarter. Raymond James Financial Inc. now owns 3,133,413 shares of the company’s stock valued at $425,298,000 after purchasing an additional 119,562 shares during the last quarter. 43.42% of the stock is currently owned by institutional investors and hedge funds.

SPDR S&P Dividend ETF Trading Up 0.7%

Shares of SDY stock opened at $155.25 on Tuesday. The firm has a market capitalization of $22.01 billion, a price-to-earnings ratio of 19.85 and a beta of 0.79. The business’s 50-day moving average price is $145.15 and its 200-day moving average price is $141.37. SPDR S&P Dividend ETF has a 12 month low of $119.83 and a 12 month high of $156.06.

SPDR S&P Dividend ETF 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.