SPDR S&P Dividend ETF (NYSEARCA:SDY) Hits New 52-Week High – Should You Buy?

SPDR S&P Dividend ETF (NYSEARCA:SDY) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $156.12 and last traded at $154.9040, with a volume of 21959 shares traded. The stock had previously closed at $155.25.

SPDR S&P Dividend ETF Trading Down 0.4%

The stock’s 50 day moving average price is $145.15 and its 200 day moving average price is $141.37. The company has a market cap of $21.93 billion, a price-to-earnings ratio of 19.85 and a beta of 0.79.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SDY. CVA Family Office LLC increased its holdings in SPDR S&P Dividend ETF by 60.0% in the 3rd quarter. CVA Family Office LLC now owns 200 shares of the company’s stock valued at $28,000 after purchasing an additional 75 shares in the last quarter. Flagship Wealth Advisors LLC grew its holdings in SPDR S&P Dividend ETF by 625.0% during the 3rd quarter. Flagship Wealth Advisors LLC now owns 203 shares of the company’s stock worth $28,000 after acquiring an additional 175 shares in the last quarter. Compass Financial Services Inc bought a new stake in SPDR S&P Dividend ETF in the third quarter valued at about $29,000. Delos Wealth Advisors LLC acquired a new stake in shares of SPDR S&P Dividend ETF during the 3rd quarter valued at approximately $29,000. Finally, Global Wealth Strategies & Associates increased its stake in SPDR S&P Dividend ETF by 985.0% during the third quarter. Global Wealth Strategies & Associates now owns 217 shares of the company’s stock valued at $30,000 after purchasing an additional 197 shares during the last quarter. 43.42% of the stock is 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.