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

Shares of SPDR S&P Dividend ETF (NYSEARCA:SDY) hit a new 52-week high during trading on Wednesday . The stock traded as high as $144.43 and last traded at $144.22, with a volume of 39299 shares traded. The stock had previously closed at $143.47.

SPDR S&P Dividend ETF Price Performance

The firm’s 50-day moving average is $141.04 and its 200 day moving average is $135.52. The stock has a market cap of $22.74 billion, a price-to-earnings ratio of 19.72 and a beta of 0.68.

Hedge Funds Weigh In On SPDR S&P Dividend ETF

Institutional investors and hedge funds have recently bought and sold shares of the stock. Joel Isaacson & Co. LLC increased its position in shares of SPDR S&P Dividend ETF by 1.2% in the third quarter. Joel Isaacson & Co. LLC now owns 2,461,997 shares of the company’s stock worth $349,702,000 after acquiring an additional 30,381 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of SPDR S&P Dividend ETF by 13,497.7% in the third quarter. International Assets Investment Management LLC now owns 1,174,296 shares of the company’s stock worth $166,797,000 after acquiring an additional 1,165,660 shares in the last quarter. Destination Wealth Management increased its position in shares of SPDR S&P Dividend ETF by 0.3% in the third quarter. Destination Wealth Management now owns 700,423 shares of the company’s stock worth $99,488,000 after acquiring an additional 2,366 shares in the last quarter. Creative Planning increased its position in shares of SPDR S&P Dividend ETF by 1.1% in the second quarter. Creative Planning now owns 461,739 shares of the company’s stock worth $58,724,000 after acquiring an additional 4,963 shares in the last quarter. Finally, Elk River Wealth Management LLC increased its position in shares of SPDR S&P Dividend ETF by 2.2% in the third quarter. Elk River Wealth Management LLC now owns 385,024 shares of the company’s stock worth $54,690,000 after acquiring an additional 8,194 shares in the last quarter.

SPDR S&P Dividend ETF Company Profile

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.