Financial Counselors Inc. lowered its stake in shares of SPDR S&P 500 ETF Trust (NYSEARCA:SPY) by 4.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 159,935 shares of the company’s stock after selling 6,593 shares during the quarter. SPDR S&P 500 ETF Trust comprises approximately 2.0% of Financial Counselors Inc.’s investment portfolio, making the stock its biggest position. Financial Counselors Inc.’s holdings in SPDR S&P 500 ETF Trust were worth $40,190,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the stock. Beach Investment Management LLC. bought a new stake in SPDR S&P 500 ETF Trust during the second quarter worth $3,460,000. State of Wisconsin Investment Board lifted its stake in shares of SPDR S&P 500 ETF Trust by 196.7% in the 2nd quarter. State of Wisconsin Investment Board now owns 7,760 shares of the company’s stock valued at $1,876,000 after acquiring an additional 5,145 shares during the last quarter. Comerica Bank lifted its stake in shares of SPDR S&P 500 ETF Trust by 1.2% in the 2nd quarter. Comerica Bank now owns 50,364 shares of the company’s stock valued at $12,430,000 after acquiring an additional 587 shares during the last quarter. BARING ASSET MANAGEMENT Ltd bought a new position in shares of SPDR S&P 500 ETF Trust in the 2nd quarter valued at $392,000. Finally, Ballentine Partners LLC lifted its stake in shares of SPDR S&P 500 ETF Trust by 8.4% in the 2nd quarter. Ballentine Partners LLC now owns 281,065 shares of the company’s stock valued at $69,414,000 after acquiring an additional 21,661 shares during the last quarter.
Separately, S&P Equity Research initiated coverage on SPDR S&P 500 ETF Trust in a research note on Monday, December 11th. They issued a $3,000.00 price target for the company.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Monday, December 18th will be paid a $1.3513 dividend. This represents a $5.41 dividend on an annualized basis and a dividend yield of 2.02%. This is a boost from SPDR S&P 500 ETF Trust’s previous quarterly dividend of $1.23. The ex-dividend date is Friday, December 15th. SPDR S&P 500 ETF Trust’s dividend payout ratio is presently -419.86%.
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SPDR S&P 500 ETF Trust 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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