Prudential Financial Inc. Cuts Stake in SPDR S&P 500 ETF Trust (NYSE:SPY)

Prudential Financial Inc. decreased its holdings in shares of SPDR S&P 500 ETF Trust (NYSE:SPY) by 4.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,896,683 shares of the exchange traded fund’s stock after selling 93,262 shares during the quarter. SPDR S&P 500 ETF Trust comprises about 0.7% of Prudential Financial Inc.’s investment portfolio, making the stock its 18th largest position. Prudential Financial Inc.’s holdings in SPDR S&P 500 ETF Trust were worth $458,617,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Osborne Partners Capital Management LLC raised its stake in shares of 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 acquiring an additional 577 shares during the period. First Citizens Bank & Trust Co. raised its stake in shares of 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 acquiring an additional 4,761 shares during the period. Greenleaf Trust raised its stake in shares of 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 acquiring an additional 354 shares during the period. Axel Capital Management LLC raised its stake in shares of 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 acquiring an additional 87,000 shares during the period. Finally, Appropriate Balance Financial Services Inc. raised its stake in shares of 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 acquiring an additional 469 shares during the period.

SPDR S&P 500 ETF Trust (NYSE:SPY) opened at 249.19 on Friday. The company has a 50-day moving average of $246.46 and a 200 day moving average of $241.49. SPDR S&P 500 ETF Trust has a 1-year low of $208.38 and a 1-year high of $250.32.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Monday, September 18th will be paid a $1.2346 dividend. This represents a $4.94 dividend on an annualized basis and a yield of 1.98%. This is a positive change from SPDR S&P 500 ETF Trust’s previous quarterly dividend of $1.18. The ex-dividend date of this dividend is Friday, September 15th.

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

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.

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

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