Spectrum Management Group Inc. trimmed its position in shares of SPDR S&P 500 ETF Trust (NYSEARCA:SPY) by 1.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 227,314 shares of the company’s stock after selling 2,724 shares during the quarter. SPDR S&P 500 ETF Trust makes up approximately 21.0% of Spectrum Management Group Inc.’s investment portfolio, making the stock its biggest holding. Spectrum Management Group Inc.’s holdings in SPDR S&P 500 ETF Trust were worth $60,661,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SPY. Guidant Wealth Advisors boosted its holdings in SPDR S&P 500 ETF Trust by 533.5% during the fourth quarter. Guidant Wealth Advisors now owns 1,267 shares of the company’s stock valued at $114,000 after purchasing an additional 1,067 shares in the last quarter. Portfolio Solutions LLC boosted its holdings in shares of SPDR S&P 500 ETF Trust by 137.9% in the 4th quarter. Portfolio Solutions LLC now owns 521 shares of the company’s stock worth $139,000 after acquiring an additional 302 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in shares of SPDR S&P 500 ETF Trust in the 3rd quarter worth approximately $148,000. Akanthos Capital Management LLC acquired a new position in shares of SPDR S&P 500 ETF Trust in the 3rd quarter worth approximately $158,000. Finally, Orrstown Financial Services Inc. boosted its holdings in shares of SPDR S&P 500 ETF Trust by 73.1% in the 4th quarter. Orrstown Financial Services Inc. now owns 592 shares of the company’s stock worth $158,000 after acquiring an additional 250 shares in the last quarter.
Separately, S&P Equity Research began coverage on SPDR S&P 500 ETF Trust in a report on Monday, December 11th. They issued a $3,000.00 target price on the stock.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Monday, December 18th were issued a $1.3513 dividend. This is an increase from SPDR S&P 500 ETF Trust’s previous quarterly dividend of $1.23. This represents a $5.41 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend was Friday, December 15th. SPDR S&P 500 ETF Trust’s payout ratio is presently -328.77%.
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SPDR S&P 500 ETF Trust Profile
SPDR S&P 500 ETF Trust (the Trust) is a unit investment trust. The Trust seeks to provide investment results that, before expenses, correspond generally to the price and yield performance of the S&P 500 Index (the Index). The Trust seeks to achieve this investment objective by holding a portfolio of the common stocks that are included in the Index (the Portfolio), with the weight of each stock in the Portfolio substantially corresponding to the weight of such stock in the Index.
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