PNC Financial Services Group Inc. Reduces Stock Position in SPDR S&P Dividend ETF $SDY

PNC Financial Services Group Inc. reduced its position in shares of SPDR S&P Dividend ETF (NYSEARCA:SDY) by 17.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 483,570 shares of the company’s stock after selling 100,634 shares during the period. PNC Financial Services Group Inc. owned 0.34% of SPDR S&P Dividend ETF worth $67,294,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SDY. Brighton Jones LLC boosted its holdings in shares of SPDR S&P Dividend ETF by 404.5% during the fourth quarter. Brighton Jones LLC now owns 18,495 shares of the company’s stock worth $2,443,000 after purchasing an additional 14,829 shares during the period. AQR Capital Management LLC boosted its holdings in shares of SPDR S&P Dividend ETF by 49.5% during the first quarter. AQR Capital Management LLC now owns 7,936 shares of the company’s stock worth $1,077,000 after purchasing an additional 2,627 shares during the period. First Trust Advisors LP boosted its holdings in shares of SPDR S&P Dividend ETF by 30.4% during the second quarter. First Trust Advisors LP now owns 32,141 shares of the company’s stock worth $4,362,000 after purchasing an additional 7,493 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of SPDR S&P Dividend ETF by 3.5% during the second quarter. NewEdge Advisors LLC now owns 65,223 shares of the company’s stock worth $8,853,000 after purchasing an additional 2,192 shares during the period. Finally, Raymond James Financial Inc. boosted its holdings in shares of SPDR S&P Dividend ETF by 4.0% during the second quarter. Raymond James Financial Inc. now owns 3,133,413 shares of the company’s stock worth $425,298,000 after purchasing an additional 119,562 shares during the period. 43.42% of the stock is currently owned by hedge funds and other institutional investors.

SPDR S&P Dividend ETF Trading Up 0.4%

SPDR S&P Dividend ETF stock opened at $148.78 on Friday. The firm has a 50-day moving average of $147.34 and a 200-day moving average of $145.66. The firm has a market cap of $21.77 billion, a P/E ratio of 19.85 and a beta of 0.71. SPDR S&P Dividend ETF has a 1-year low of $131.96 and a 1-year high of $156.39.

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. The Fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the Index.