Destination Wealth Management decreased its position in SPDR S&P 500 ETF Trust (NYSEARCA:SPY) by 6.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,486 shares of the company’s stock after selling 614 shares during the period. Destination Wealth Management’s holdings in SPDR S&P 500 ETF Trust were worth $2,132,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in SPY. Kohmann Bosshard Financial Services LLC purchased a new stake in SPDR S&P 500 ETF Trust during the 3rd quarter valued at approximately $148,000. Akanthos Capital Management LLC purchased a new stake in SPDR S&P 500 ETF Trust during the 3rd quarter valued at approximately $158,000. WESPAC Advisors SoCal LLC grew its holdings in SPDR S&P 500 ETF Trust by 68.8% during the 2nd quarter. WESPAC Advisors SoCal LLC now owns 675 shares of the company’s stock valued at $163,000 after buying an additional 275 shares in the last quarter. Almanack Investment Partners LLC. grew its holdings in SPDR S&P 500 ETF Trust by 2.6% during the 2nd quarter. Almanack Investment Partners LLC. now owns 698 shares of the company’s stock valued at $170,000 after buying an additional 18 shares in the last quarter. Finally, Logan Capital Management Inc. purchased a new stake in SPDR S&P 500 ETF Trust during the 2nd quarter valued at approximately $201,000.
Separately, S&P Equity Research began coverage on shares of SPDR S&P 500 ETF Trust in a report on Monday, December 11th. They set a $3,000.00 price objective for the company.
SPDR S&P 500 ETF Trust (NYSEARCA:SPY) traded up $1.80 during trading hours on Friday, hitting $277.92. The stock had a trading volume of 18,380,000 shares. The company has a market capitalization of $280,440.00 and a P/E ratio of -190.36. SPDR S&P 500 ETF Trust has a fifty-two week low of $224.96 and a fifty-two week high of $278.10.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Monday, December 18th will be paid a dividend of $1.3513 per share. The ex-dividend date of this dividend is Friday, December 15th. This represents a $5.41 annualized dividend and a dividend yield of 1.94%. This is a positive change from SPDR S&P 500 ETF Trust’s previous quarterly dividend of $1.23. SPDR S&P 500 ETF Trust’s dividend payout ratio (DPR) is currently -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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