Patriot Wealth Management Inc. Sells 1,587 Shares of SPDR S&P 500 ETF Trust (SPY)

Patriot Wealth Management Inc. lessened its stake in shares of SPDR S&P 500 ETF Trust (NYSEARCA:SPY) by 0.5% in the 4th quarter, Holdings Channel reports. The firm owned 295,377 shares of the company’s stock after selling 1,587 shares during the quarter. SPDR S&P 500 ETF Trust comprises about 11.2% of Patriot Wealth Management Inc.’s portfolio, making the stock its largest holding. Patriot Wealth Management Inc.’s holdings in SPDR S&P 500 ETF Trust were worth $78,824,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC purchased a new position in SPDR S&P 500 ETF Trust in the third quarter worth $148,000. Akanthos Capital Management LLC purchased a new position in SPDR S&P 500 ETF Trust in the third quarter worth $158,000. WESPAC Advisors SoCal LLC raised its position in SPDR S&P 500 ETF Trust by 68.8% in the second quarter. WESPAC Advisors SoCal LLC now owns 675 shares of the company’s stock worth $163,000 after acquiring an additional 275 shares in the last quarter. Almanack Investment Partners LLC. raised its position in SPDR S&P 500 ETF Trust by 2.6% in the second quarter. Almanack Investment Partners LLC. now owns 698 shares of the company’s stock worth $170,000 after acquiring an additional 18 shares in the last quarter. Finally, Logan Capital Management Inc. purchased a new position in SPDR S&P 500 ETF Trust in the second quarter worth $201,000.

SPDR S&P 500 ETF Trust (SPY) opened at $274.12 on Thursday. The stock has a market capitalization of $276,360.00 and a price-to-earnings ratio of -187.75. SPDR S&P 500 ETF Trust has a 52-week low of $224.96 and a 52-week high of $275.25.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Monday, December 18th will be issued a $1.3513 dividend. This is a positive change from SPDR S&P 500 ETF Trust’s previous quarterly dividend of $1.23. The ex-dividend date is Friday, December 15th. This represents a $5.41 annualized dividend and a yield of 1.97%. SPDR S&P 500 ETF Trust’s dividend payout ratio is -328.77%.

Separately, S&P Equity Research began coverage on SPDR S&P 500 ETF Trust in a research report on Monday, December 11th. They issued a $3,000.00 price objective for the company.

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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.

Want to see what other hedge funds are holding SPY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SPDR S&P 500 ETF Trust (NYSEARCA:SPY).

Institutional Ownership by Quarter for SPDR S&P 500 ETF Trust (NYSEARCA:SPY)

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