Sequoia Financial Advisors LLC Raises Stock Holdings in SPDR S&P Dividend ETF (NYSEARCA:SDY)

Sequoia Financial Advisors LLC increased its position in SPDR S&P Dividend ETF (NYSEARCA:SDY) by 51.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,798 shares of the company’s stock after buying an additional 7,702 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in SPDR S&P Dividend ETF were worth $3,093,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in SDY. Bank of America Corp DE increased its position in shares of SPDR S&P Dividend ETF by 0.3% during the fourth quarter. Bank of America Corp DE now owns 7,716,604 shares of the company’s stock valued at $1,019,363,000 after buying an additional 24,596 shares during the period. Raymond James Financial Inc. purchased a new position in shares of SPDR S&P Dividend ETF during the fourth quarter valued at about $397,657,000. LPL Financial LLC increased its position in shares of SPDR S&P Dividend ETF by 2.1% during the fourth quarter. LPL Financial LLC now owns 2,861,694 shares of the company’s stock valued at $378,030,000 after buying an additional 59,001 shares during the period. Wells Fargo & Company MN increased its position in shares of SPDR S&P Dividend ETF by 19.0% during the fourth quarter. Wells Fargo & Company MN now owns 2,103,521 shares of the company’s stock valued at $277,875,000 after buying an additional 335,483 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of SPDR S&P Dividend ETF by 63.0% during the fourth quarter. JPMorgan Chase & Co. now owns 1,688,669 shares of the company’s stock valued at $223,073,000 after buying an additional 652,619 shares during the period. 43.42% of the stock is owned by hedge funds and other institutional investors.

SPDR S&P Dividend ETF Price Performance

Shares of NYSEARCA SDY opened at $135.26 on Friday. SPDR S&P Dividend ETF has a 1 year low of $119.83 and a 1 year high of $144.45. The company’s 50-day moving average is $133.57 and its 200 day moving average is $133.42. The stock has a market capitalization of $19.86 billion, a P/E ratio of 19.85 and a beta of 0.86.

About SPDR S&P Dividend ETF

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.