Pinnacle Financial Partners Inc Has $1.41 Million Position in SPDR S&P Dividend ETF (NYSEARCA:SDY)

Pinnacle Financial Partners Inc lowered its stake in shares of SPDR S&P Dividend ETF (NYSEARCA:SDY) by 3.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,554 shares of the company’s stock after selling 335 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in SPDR S&P Dividend ETF were worth $1,414,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SDY. JPMorgan Chase & Co. lifted its stake in SPDR S&P Dividend ETF by 13.5% during the third quarter. JPMorgan Chase & Co. now owns 1,036,050 shares of the company’s stock worth $147,161,000 after purchasing an additional 122,858 shares during the last quarter. TigerOak Management L.L.C. bought a new stake in SPDR S&P Dividend ETF during the fourth quarter worth $16,186,000. Private Advisor Group LLC lifted its stake in SPDR S&P Dividend ETF by 84.5% during the fourth quarter. Private Advisor Group LLC now owns 255,882 shares of the company’s stock worth $33,802,000 after purchasing an additional 117,210 shares during the last quarter. Argent Capital Management LLC bought a new stake in SPDR S&P Dividend ETF during the fourth quarter worth $14,644,000. Finally, Strategic Financial Concepts LLC bought a new position in shares of SPDR S&P Dividend ETF in the 4th quarter valued at $11,505,000.

SPDR S&P Dividend ETF Stock Performance

Shares of SDY opened at $136.54 on Monday. SPDR S&P Dividend ETF has a 52 week low of $124.37 and a 52 week high of $144.45. The stock has a market capitalization of $21.60 billion, a price-to-earnings ratio of 19.72 and a beta of 0.68. The stock has a fifty day moving average of $133.42 and a 200-day moving average of $137.63.

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.