Traders Buy SPDR S&P 500 ETF Trust (NYSE:SPY) on Weakness

Investors purchased shares of SPDR S&P 500 ETF Trust (NYSE:SPY) on weakness during trading on Monday. $990.40 million flowed into the stock on the tick-up and $727.38 million flowed out of the stock on the tick-down, for a money net flow of $263.02 million into the stock. Of all stocks tracked, SPDR S&P 500 ETF Trust had the highest net in-flow for the day. SPDR S&P 500 ETF Trust traded down ($0.06) for the day and closed at $246.82

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Separately, Goldman Sachs Group, Inc. (The) lifted their target price on shares of SPDR S&P 500 ETF Trust from $123.00 to $129.00 in a research note on Wednesday, June 28th.

The firm has a 50-day moving average of $243.53 and a 200-day moving average of $236.78.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Tuesday, June 20th will be given a dividend of $1.1831 per share. The ex-dividend date of this dividend is Friday, June 16th. This represents a $4.73 annualized dividend and a dividend yield of 1.92%. This is a positive change from SPDR S&P 500 ETF Trust’s previous quarterly dividend of $1.03.

Several large investors have recently added to or reduced their stakes in SPY. Wallington Asset Management LLC raised its stake in SPDR S&P 500 ETF Trust by 5.0% in the second quarter. Wallington Asset Management LLC now owns 8,030 shares of the exchange traded fund’s stock valued at $1,942,000 after buying an additional 381 shares during the last quarter. CTC LLC raised its stake in SPDR S&P 500 ETF Trust by 164.4% in the second quarter. CTC LLC now owns 248,205 shares of the exchange traded fund’s stock valued at $59,904,000 after buying an additional 154,334 shares during the last quarter. Benin Management CORP raised its stake in SPDR S&P 500 ETF Trust by 4.4% in the second quarter. Benin Management CORP now owns 170,475 shares of the exchange traded fund’s stock valued at $41,221,000 after buying an additional 7,200 shares during the last quarter. Appropriate Balance Financial Services Inc. raised its stake in SPDR S&P 500 ETF Trust by 2.1% in the second quarter. Appropriate Balance Financial Services Inc. now owns 22,812 shares of the exchange traded fund’s stock valued at $94,343,000 after buying an additional 469 shares during the last quarter. Finally, Axel Capital Management LLC raised its stake in SPDR S&P 500 ETF Trust by 18.7% in the second quarter. Axel Capital Management LLC now owns 551,270 shares of the exchange traded fund’s stock valued at $133,297,000 after buying an additional 87,000 shares during the last quarter.

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SPDR S&P 500 ETF Trust Company 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.