Merit Financial Group LLC Has $6.90 Million Position in SPDR S&P Dividend ETF $SDY

Merit Financial Group LLC trimmed its stake in shares of SPDR S&P Dividend ETF (NYSEARCA:SDY) by 6.2% in the third quarter, Holdings Channel.com reports. The fund owned 49,267 shares of the company’s stock after selling 3,251 shares during the quarter. Merit Financial Group LLC’s holdings in SPDR S&P Dividend ETF were worth $6,900,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. raised its holdings in SPDR S&P Dividend ETF by 4.0% during the 2nd 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 last quarter. JPMorgan Chase & Co. increased its holdings in SPDR S&P Dividend ETF by 125.3% in the second quarter. JPMorgan Chase & Co. now owns 1,451,468 shares of the company’s stock worth $197,008,000 after purchasing an additional 7,179,596 shares in the last quarter. MAI Capital Management boosted its holdings in shares of SPDR S&P Dividend ETF by 2.5% during the 2nd quarter. MAI Capital Management now owns 767,082 shares of the company’s stock worth $104,116,000 after buying an additional 18,830 shares in the last quarter. Cetera Investment Advisers grew its position in shares of SPDR S&P Dividend ETF by 0.6% during the 2nd quarter. Cetera Investment Advisers now owns 699,649 shares of the company’s stock worth $94,963,000 after buying an additional 3,929 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in SPDR S&P Dividend ETF by 35.0% in the second quarter. PNC Financial Services Group Inc. now owns 574,419 shares of the company’s stock valued at $77,966,000 after purchasing an additional 148,984 shares in the last quarter. 43.42% of the stock is currently owned by institutional investors.

SPDR S&P Dividend ETF Stock Up 0.7%

Shares of NYSEARCA:SDY opened at $155.25 on Tuesday. The firm has a market capitalization of $22.01 billion, a price-to-earnings ratio of 19.85 and a beta of 0.79. The stock’s 50 day moving average is $145.15 and its 200-day moving average is $141.37. SPDR S&P Dividend ETF has a twelve month low of $119.83 and a twelve month high of $156.06.

SPDR S&P Dividend ETF 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.