Burney Co. raised its stake in SPDR S&P 500 ETF Trust (NYSEARCA:SPY) by 66.9% in the 4th quarter, HoldingsChannel reports. The fund owned 6,412 shares of the company’s stock after buying an additional 2,571 shares during the quarter. Burney Co.’s holdings in SPDR S&P 500 ETF Trust were worth $1,711,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in SPY. Independence Bank of Kentucky bought a new position in shares of SPDR S&P 500 ETF Trust in the 4th quarter valued at $100,000. Keeler Thomas Management LLC bought a new position in shares of SPDR S&P 500 ETF Trust in the 4th quarter valued at $133,000. Icon Wealth Partners LLC bought a new stake in SPDR S&P 500 ETF Trust during the 4th quarter worth $133,000. Portfolio Solutions LLC grew its position in SPDR S&P 500 ETF Trust by 137.9% during the 4th quarter. Portfolio Solutions LLC now owns 521 shares of the company’s stock worth $139,000 after acquiring an additional 302 shares during the last quarter. Finally, Orrstown Financial Services Inc. grew its position in SPDR S&P 500 ETF Trust by 73.1% during 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 during the last quarter.
Separately, S&P Equity Research assumed coverage on SPDR S&P 500 ETF Trust in a research report on Monday, December 11th. They set a $3,000.00 price objective on the stock.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Monday, March 19th will be given a dividend of $1.0968 per share. The ex-dividend date of this dividend is Friday, March 16th. This represents a $4.39 dividend on an annualized basis and a yield of 1.70%. SPDR S&P 500 ETF Trust’s dividend payout ratio is currently -333.56%.
About SPDR S&P 500 ETF Trust
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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