Investors Buy Shares of SPDR S&P 500 ETF Trust (SPY) on Weakness

Traders purchased shares of SPDR S&P 500 ETF Trust (NYSE:SPY) on weakness during trading hours 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

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

The stock has a 50 day moving average of $245.37 and a 200-day moving average of $239.54.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Tuesday, June 20th were given a $1.1831 dividend. This represents a $4.73 annualized dividend and a yield of 1.95%. This is an increase from SPDR S&P 500 ETF Trust’s previous quarterly dividend of $1.03. The ex-dividend date was Friday, June 16th.

Hedge funds have recently bought and sold shares of the company. Osborne Partners Capital Management LLC increased its stake in SPDR S&P 500 ETF Trust by 0.4% in the second quarter. Osborne Partners Capital Management LLC now owns 129,266 shares of the exchange traded fund’s stock valued at $31,257,000 after buying an additional 577 shares in the last quarter. First Citizens Bank & Trust Co. increased its stake in SPDR S&P 500 ETF Trust by 6.4% in the second quarter. First Citizens Bank & Trust Co. now owns 78,963 shares of the exchange traded fund’s stock valued at $19,093,000 after buying an additional 4,761 shares in the last quarter. Greenleaf Trust increased its stake in SPDR S&P 500 ETF Trust by 3.3% in the second quarter. Greenleaf Trust now owns 11,174 shares of the exchange traded fund’s stock valued at $2,702,000 after buying an additional 354 shares in the last quarter. Axel Capital Management LLC increased 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 in the last quarter. Finally, Appropriate Balance Financial Services Inc. increased 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 in the last quarter.

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About SPDR S&P 500 ETF Trust

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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