SPDR S&P Dividend ETF (NYSEARCA:SDY) Sets New 1-Year High – Still a Buy?

SPDR S&P Dividend ETF (NYSEARCA:SDY)’s stock price reached a new 52-week high on Friday . The stock traded as high as $157.54 and last traded at $157.54, with a volume of 23129 shares changing hands. The stock had previously closed at $155.78.

SPDR S&P Dividend ETF Stock Down 0.6%

The stock has a market cap of $21.74 billion, a P/E ratio of 19.85 and a beta of 0.69. The stock has a fifty day simple moving average of $151.02 and a 200-day simple moving average of $149.25.

Institutional Trading of SPDR S&P Dividend ETF

A number of hedge funds have recently modified their holdings of the company. World Investment Advisors raised its holdings in SPDR S&P Dividend ETF by 9.2% in the fourth quarter. World Investment Advisors now owns 80,205 shares of the company’s stock worth $11,161,000 after purchasing an additional 6,744 shares during the period. Dara Capital US Inc. acquired a new position in shares of SPDR S&P Dividend ETF in the 4th quarter valued at $509,000. M&T Bank Corp increased its position in shares of SPDR S&P Dividend ETF by 8.0% in the 4th quarter. M&T Bank Corp now owns 97,976 shares of the company’s stock valued at $13,634,000 after buying an additional 7,228 shares in the last quarter. Ticino Wealth bought a new stake in shares of SPDR S&P Dividend ETF in the 4th quarter valued at $602,000. Finally, Thrivent Financial for Lutherans raised its stake in SPDR S&P Dividend ETF by 121.4% during the 4th quarter. Thrivent Financial for Lutherans now owns 17,611 shares of the company’s stock worth $2,458,000 after buying an additional 9,657 shares during the period. 43.42% of the stock is currently owned by institutional investors and hedge funds.

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.