SPDR S&P Dividend ETF (NYSEARCA:SDY) Sees Unusually-High Trading Volume – Still a Buy?

Shares of SPDR S&P Dividend ETF (NYSEARCA:SDY) saw an uptick in trading volume on Wednesday . 280,663 shares traded hands during mid-day trading, an increase of 12% from the previous session’s volume of 251,455 shares.The stock last traded at $134.84 and had previously closed at $133.68.

SPDR S&P Dividend ETF Stock Performance

The stock has a market capitalization of $20.03 billion, a P/E ratio of 20.91 and a beta of 0.87. The stock has a 50-day simple moving average of $135.06 and a 200 day simple moving average of $137.49.

SPDR S&P Dividend ETF Dividend Announcement

The business also recently declared a dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Monday, March 24th will be paid a $0.8184 dividend. The ex-dividend date is Monday, March 24th.

Institutional Trading of SPDR S&P Dividend ETF

Several hedge funds have recently added to or reduced their stakes in SDY. Raymond James Financial Inc. bought a new position in shares of SPDR S&P Dividend ETF in the 4th quarter valued at $397,657,000. Assetmark Inc. boosted its stake in shares of SPDR S&P Dividend ETF by 267,004.3% in the 4th quarter. Assetmark Inc. now owns 678,445 shares of the company’s stock valued at $89,623,000 after purchasing an additional 678,191 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of SPDR S&P Dividend ETF by 63.0% during the 4th quarter. JPMorgan Chase & Co. now owns 1,688,669 shares of the company’s stock valued at $223,073,000 after purchasing an additional 652,619 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of SPDR S&P Dividend ETF by 19.0% in the 4th quarter. Wells Fargo & Company MN now owns 2,103,521 shares of the company’s stock valued at $277,875,000 after acquiring an additional 335,483 shares during the last quarter. Finally, Nan Shan Life Insurance Co. Ltd. bought a new position in SPDR S&P Dividend ETF in the fourth quarter valued at about $28,938,000.

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.