SPDR S&P Dividend ETF (NYSEARCA:SDY) Sets New 52-Week High – Time to Buy?

SPDR S&P Dividend ETF (NYSEARCA:SDY)’s share price reached a new 52-week high during mid-day trading on Friday. The company traded as high as $162.31 and last traded at $161.0380, with a volume of 29,725 shares. The stock had previously closed at $160.19.

SPDR S&P Dividend ETF Stock Performance

The firm has a market cap of $22.30 billion, a P/E ratio of 19.85 and a beta of 0.69. The firm has a fifty day moving average of $153.38 and a 200-day moving average of $151.52.

Hedge Funds Weigh In On SPDR S&P Dividend ETF

Several hedge funds and other institutional investors have recently modified their holdings of the company. Markowski Investments acquired a new stake in SPDR S&P Dividend ETF during the 2nd quarter worth about $28,000. Continuum Advisory LLC purchased a new position in SPDR S&P Dividend ETF in the second quarter valued at about $29,000. Foresight Capital Management Advisors Inc. acquired a new position in SPDR S&P Dividend ETF in the third quarter worth approximately $30,000. Latitude Advisors LLC bought a new position in shares of SPDR S&P Dividend ETF during the 3rd quarter valued at $51,000. Finally, Evergreen Advisors LLC bought a new stake in shares of SPDR S&P Dividend ETF during the 1st quarter worth about $53,000. Institutional investors and hedge funds own 43.42% of the company’s stock.

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.