Traders bought shares of SPDR S&P 500 ETF Trust (NYSE:SPY) on weakness during trading hours on Wednesday. $1,680.38 million flowed into the stock on the tick-up and $1,391.32 million flowed out of the stock on the tick-down, for a money net flow of $289.06 million into the stock. Of all companies tracked, SPDR S&P 500 ETF Trust had the highest net in-flow for the day. SPDR S&P 500 ETF Trust traded down ($0.01) for the day and closed at $247.25
Separately, Goldman Sachs Group, Inc. (The) upped their target price on SPDR S&P 500 ETF Trust from $123.00 to $129.00 in a research note on Wednesday, June 28th.
The company has a 50 day moving average price of $244.95 and a 200 day moving average price of $238.82. SPDR S&P 500 ETF Trust also was the recipient of some unusual options trading on Thursday. Stock investors purchased 1,798,225 put options on the stock. This represents an increase of approximately 150% compared to the typical daily volume of 718,356 put options.
The business also recently declared a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Tuesday, June 20th were given a $1.1831 dividend. This represents a $4.73 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Friday, June 16th. This is a boost from SPDR S&P 500 ETF Trust’s previous quarterly dividend of $1.03.
Institutional investors have recently modified their holdings of the stock. WealthPLAN Partners LLC boosted its position in shares of SPDR S&P 500 ETF Trust by 206.1% in the second quarter. WealthPLAN Partners LLC now owns 2,639 shares of the exchange traded fund’s stock valued at $638,000 after buying an additional 1,777 shares during the period. Cedar Hill Associates LLC boosted its position in shares of SPDR S&P 500 ETF Trust by 3.0% in the second quarter. Cedar Hill Associates LLC now owns 19,922 shares of the exchange traded fund’s stock valued at $4,817,000 after buying an additional 580 shares during the period. Lehman Financial Resources Inc. boosted its position in shares of SPDR S&P 500 ETF Trust by 1.3% in the second quarter. Lehman Financial Resources Inc. now owns 1,976 shares of the exchange traded fund’s stock valued at $476,000 after buying an additional 25 shares during the period. Glenview Trust Co boosted its position in shares of SPDR S&P 500 ETF Trust by 0.8% in the second quarter. Glenview Trust Co now owns 92,785 shares of the exchange traded fund’s stock valued at $22,435,000 after buying an additional 778 shares during the period. Finally, Suntrust Banks Inc. boosted its position in shares of SPDR S&P 500 ETF Trust by 6.7% in the second quarter. Suntrust Banks Inc. now owns 1,956,244 shares of the exchange traded fund’s stock valued at $473,018,000 after buying an additional 122,924 shares during the period.
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.
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