12 November, 2019 (16:00:00 EST)

SPDR S&P 500 ETF hits year-high 9th time in three months


SPDR S&P 500 ETF Trust (NYSE:SPY), the largest Exchange Traded Fund by market cap in the United States, hit a 52-week high of $US309.99 during the day. In the last three months the ETF has hit a new 52-week high nine times, pointing to a significant uptrend. The ETF price has increased 20.0c (or 0.1%) from its last trading session of November 11 to close at $US308.53 The ETF rose for a second day on Tuesday bringing its two-day rise to 40.0c or 0.1%. Compared with the Morgan Stanley Capital International USA Index [MSCI USA] which rose 13.2 points (0.2%) in the day, the relative price change was -0.1%. Its MCap is $US280 billion.

NET ASSET VALUE release date 11 November, 2019
The Net Asset Value (NAV) of the ETF is $US309.01 and it last traded at a discount of 0.154% to NAV.
SPYToday1 Day agoWeek agoMonth ago
Price, USD308.53308.13307.36296.21
NAV, USD309.01308.16307.31296.39
Price/NAV1.01.01.01.0
MSCI USA8,321.138,307.948,266.257,986.58


THE PAST WEEK [Price up 0.3% to $US308.33; NAV up 0.6% to $US309.01]
SPDR S&P 500 ETF NAV rises in 4 out of last 5 days.
DAYComment on PriceClose price [USD]NAV [USD]NAV ChangeComment on NAV
Nov 11Increases on weak volume308.33309.0060.842 
Nov 08Falls 0.5% from 14-day high308.13308.1640.982 
Nov 07Hits year-high 8th time in three months308.21307.1820.237 
Nov 06Falls for a second consecutive day, a two-day fall of 0.2%307.02306.945-0.362Steepest Fall
Nov 05Decreases on weak volume307.36307.3071.136Top Rise


THE PAST FIVE YEARS

SPDR S&P 500 ETF surges 65% in 5 years

SPDR S&P 500 ETF Trust (P:SPY), has surged $US121.77 (or 65.2%) in the past five years to close at $US308.53 today. Compared with the Morgan Stanley Capital International USA Index which has risen 62.4% over the same period, this is a relative price increase of 2.8%.

SECTION 1

SPDR S&P 500 ETF BULLISH SIGNALS

1.1 Technicals:
+ The Moving Average Convergence Divergence (MACD) indicator of 12-day Exponential Moving Average (EMA) of 306.01 minus the 26-day EMA of 302.84 is positive 3.17 suggesting a bullish signal. Both EMA prices are rising, another bullish signal.
+ In the last three months the ETF has hit a new 52-week high nine times, pointing to a significant uptrend.
+ The present value of $US1,000 (PV1000) invested one year ago in SPDR S&P 500 ETF is $US1,172, comprising a capital gain of $US149 and dividend reinvested of $US23. A comparison with Morgan Stanley Capital International World Index [MSCI World] and Morgan Stanley Capital International USA Index [MSCI USA] is shown below:
PV$10001-week1-month1-year
SPY.P1,0041,0421,172
MSCI World1,0051,0281,119
MSCI USA1,0071,0301,153
+ The present value of USD1,000 (PV1000) invested ten years ago in SPDR S&P 500 ETF is $US3,428, for a capital gain of $US2,428.
+ 10 years Multiplier in USD = 3.428x
+ Compound Annual Growth Rate (CAGR) in USD = 13.1%

1.2 High Performance Indicators:
DescriptionValueRank In Market
Today's Turnover$US9.2 billionIn Top 1%
Price/MAP2001.09In Top Quartile

SECTION 2

SPDR S&P 500 ETF BEARISH SIGNALS

2.1 Technicals:
+ The 0.5% discount to 12-month high of $US309.99 against the 33.8% premium to 12-month low of $US230.55 suggests the climb might be peaking.

2.2 Overbought/Bearish/Resistance Signals:
+ The Relative Strength Index (RSI) of 84.9 has penetrated the overbought line of 70, suggesting the price gain of 2.8% in the last 14 days is unusually high.
+ The ETF is overbought according to the Williams % R indicator of -13.9, suggesting the price is close to its 14-day high of $US309.99.
+ The Stochastic indicator of 87.9 has broken through the overbought line of 80; this indicates the price is close to its 14-day high and is likely to revert to a downtrend.

SECTION 3

PRICE VOLUME DYNAMICS


3.1 Momentum:
+ Volume: there were 29,696,140 units worth $US9.2 billion traded today. In the past week, volume was 0.5 times average and the units were up 0.4%.The volume was 0.6 times the average daily trading of 52.8 million units.

3.2 The Best 3 weeks in the past quarter [Relative Price Change or RPC]
Mon-FriChange %MSCI USA Change %RPC %Vol Ind [1 is avg]
Aug 26-302.42.7-0.40.7
Sep 02-062.11.80.30.8
Oct 07-111.60.70.90.7

3.3 The Worst 3 weeks in the past quarter [Relative Price Change or RPC]
Mon-FriChange %MSCI USA Change %RPC %Vol Ind [1 is avg]
Sep 23-27-1.7-1-0.70.7
Aug 19-23-1.2-1.40.20.8
Sep 16-20-0.20-0.20.8

3.4 Trailing 3 months
TurnoverUS$802.5 billion
Volume2,714,661,651
Volume Index (1 is avg)0.8

3.5 Trailing Price Change %
3-Year price change of 51% for SPY outperformed the change of 33.8% in the Morgan Stanley Capital International World Index [MSCI World] for a relative price change of 17.2%.
Price Change %QuarterYear3 Years
SPY7.614.951
MSCI World7.210.133.8

3.6 MCap: 5-Year Perspective
In the past 5 years Market Capitalization has increased by $US87 billion from $US192.8 billion to $US279.8 billion. Based on a dynamic start date of 5 years ago, there has been only 1 decline in MCap over the last 5 years.
 Close PriceMCap (US$ B)
Last$US308.33279.8
1 Year ago$US271.25261.3
2 Years ago$US249.45254.6
3 Years ago$US202.01194.3
4 Years ago$US194.04181.3
5 Years ago$US186.0192.8

3.7 Moving Annual Return (Past 5 years)
Based on a dynamic start date of 5 years ago, the real rate of return has averaged 12.7%. The Moving Annual Return has consistently exceeded 3%.
SPYClose (USD)Dividends (USD)Capital Gain %% YieldAnnual Return %
Nov 12308.535.4814.9217.0
1 Yr ago268.445.028210.1
2 Yrs ago248.464.7821.62.323.9
3 Yrs ago204.384.426.62.38.9
4 Yrs ago191.782.062.71.13.8

Close 5 years ago $US186.76

3.8 Year-on-Year Comparison (Trailing year - ended 31 Oct)

In the past 5 years, SPY has jumped 63.8% from 184.46 to 302.14 , an average annual compound rise of 10.4%.
 201920182017201620152014
Close302.14267.16247.57200.77192.17184.46
% Price Change1316.40.95.122.117.9
Avg Daily Volume53,476,72630,822,19448,307,20985,632,268113,177,768147,371,047
VWP264.98225.63201.02201.16178.56148.62
Turnover Period27 d50 d27 d15 d12 d9 d
Price Range230.55 - 304.23218.98 - 287.52191.94 - 248.34168.16 - 206.23168.16 - 195.95157.44 - 184.68

In the past 5 years average daily volume has declined 63.7% from 147.4 million units to 53.5 million units. Turnover period has increased from 9 days to 27 days. This indicates a larger number of core investors, making a long-term investment safer.

3.9 Beta:
+ Beta: the Beta is 0.9. A Beta lower than 1 suggests this is a low risk, low return ETF with volatility less than that of the market.

SECTION 4

RANKING

4.1 Global Rank out of 4,797 ETFs
The present value of $US1,000 invested a year ago is $US1,172, ranking it 807 out of 4,797 ETFs.Its 6-month relative strength (or price percentile rank) in USD is 82.
DescriptionValueRankQuartile
Net Assets (US$)257.4B5Top
Price/NAV1.0583Top
Rel Strength 6 Mo (US$)82877Top
PV$1000 (1Year) US$1,172807Top

4.2 Rank in the Total United States ETF Market [out of 1,480 ETFs]
DescriptionValueRank
Rel Strength 6 Mon ($US)81286
PV1000-1Year ($US)1,172335

SECTION 5

ANALYST RECOMMENDATION

DateBrokerageActionCurrent RatingPast Rating
Sep 30,2019XTF Inc.Downgrade9.7 out of 109.8 out of 10

SECTION 6

REPORTED BUYING AND SELLING

6.1 Top 40 Institutional Holders of SPDR S&P 500 ETF as at June 30, 2019
The top 40 institutional shareholders held 44.2% units of SPDR S&P 500 ETF. The largest shareholder was JP Morgan Chase & Co with 9.61% of SPDR S&P 500 ETF. The second largest shareholder was Goldman Sachs Group Inc. with 4.17%.
Institution (CIK)ETFsHolding %Value $USDUnrealised Gain/(Loss)*
JP Morgan Chase & Co (0000019617)87,239,0279.6125.4 B1.5 B
Goldman Sachs Group Inc. (0000886982)37,862,0594.1711 B650.1 M
Bank of America Corp, DE (0000070858)37,260,3574.1110.8 B639.8 M
Morgan Stanley (0000895421)34,706,1793.8210.1 B595.9 M
UBS Group AG (0001610520)23,707,5652.616.9 B407.1 M
Wells Fargo & Company (0000072971)16,423,3121.814.8 B282 M
TD Asset Management Inc. (0001056053)12,478,1281.383.6 B214.3 M
Toronto Dominion Bank (0000947263)11,797,0541.33.4 B202.6 M
Northern Trust Corp (0000073124)11,773,8921.33.4 B202.2 M
Barclays PLC (0000312069)11,522,4591.273.4 B197.9 M
Bridgewater Associates, LP (0001350694)6,778,9360.752 B116.4 M
Ameriprise Financial Inc. (0000820027)6,510,4870.721.9 B111.8 M
National Mutual Insurance Federation Of Agricultural Cooperatives (0001542927)6,452,8320.711.9 B110.8 M
PNC Financial Services Group, Inc. (0000713676)6,089,6730.671.8 B104.6 M
U.S. Bancorp (DE) (0000036104)5,720,7160.631.7 B98.2 M
Citigroup Inc. (0000831001)5,663,3480.621.6 B97.2 M
Deutsche Bank AG (0000948046)5,425,6970.61.6 B93.2 M
Royal Bank Of Canada (0001000275)5,007,8890.551.5 B86 M
FMR LLC (0000315066)4,870,5450.541.4 B83.6 M
Northwestern Mutual Wealth Management Co (0001141802)4,416,3110.491.3 B75.8 M
State Street Corporation (0000093751)4,396,1040.481.3 B75.5 M
The Norinchukin Bank (0001496637)4,019,0000.441.2 B69 M
Envestnet Asset Management Inc. (0001407543)3,943,5640.431.1 B67.7 M
Wafra Investment Advisory Group Inc. /NY (0000920440)3,637,4050.41.1 B62.5 M
Natixis (0001274981)3,450,0000.381 B59.2 M
Bank of Montreal, CAN (0000927971)3,382,7660.37984.2 M58.1 M
LPL Financial LLC (0001403438)3,280,7600.36954.6 M56.3 M
Stifel Financial Corp (0000720672)3,187,4210.35927.4 M54.7 M
First Republic Investment Management, Inc. (0001418204)2,927,0980.32851.7 M50.3 M
Credit Suisse AG (0000824468)2,814,4960.31818.9 M48.3 M
Optiver US LLC (0001716559)2,813,4680.31818.6 M48.3 M
National Pension Service (0001608046)2,795,5370.31813.4 M48 M
AllianceBernstein (0001109448)2,670,1310.29776.9 M45.8 M
Stadion Money Management, LLC (0001321220)2,552,4680.28742.7 M43.8 M
Churchill Management Corp (0001094749)2,491,9690.27725.1 M42.8 M
Veritable, LP (0001300311)2,462,3140.27716.4 M42.3 M
Raymond James (0001084208)2,277,1920.25662.6 M39.1 M
Mackay Shields LLC (0000061227)2,221,0730.24646.2 M38.1 M
Suntrust Banks Inc. (0000750556)2,202,3900.24640.8 M37.8 M
Mackenzie Financial Corp (0000919859)2,116,0180.23615.7 M36.3 M
Held by Top 40401,347,64044.19116.8 billion 

*Note: Unrealised profit/(loss) is computed on the basis of ETFs held at end of quarter times current price of $US308.13 less price at end of quarter of $US290.96.

6.2 Major Increases in Top 40 institutional shareholders June 30, 2019 vs March 31, 2019
Morgan Stanley increased their shareholding in SPDR S&P 500 ETF by 7.9 million units worth USD 2.3 billion. Barclays PLC increased their shareholding by 4.8 million units worth USD 1.4 billion.
Institution (CIK)Increase in ETFsChange, $USD
Morgan Stanley (0000895421)7,924,2502.3 B
Barclays PLC (0000312069)4,811,7031.4 B
TD Asset Management Inc. (0001056053)540,611155.3 M
LPL Financial LLC (0001403438)311,56689.5 M
Northern Trust Corp (0000073124)261,43975.1 M
Wafra Investment Advisory Group Inc. /NY (0000920440)235,83367.8 M
Northwestern Mutual Wealth Management Co (0001141802)78,25222.5 M
Envestnet Asset Management Inc. (0001407543)30,0238.6 M
U.S. Bancorp (DE) (0000036104)6,6961.9 M
Ameriprise Financial Inc. (0000820027)2,503719,208
Total14,202,876 

6.3 Major Decreases in Top 40 institutional shareholders June 30, 2019 vs March 31, 2019
Credit Suisse AG reduced their shareholding in SPDR S&P 500 ETF by 5.8 million units worth USD 1.7 billion. Bank of America Corp, DE reduced their shareholding by 4.7 million units worth USD 1.4 billion.
Institution (CIK)Decrease in ETFsChange, $USD
Credit Suisse AG (0000824468)5,790,458(1.7 B)
Bank of America Corp, DE (0000070858)4,743,497(1.4 B)
Goldman Sachs Group Inc. (0000886982)3,978,686(1.1 B)
Citigroup Inc. (0000831001)3,876,029(1.1 B)
Royal Bank Of Canada (0001000275)2,745,467(788.9 M)
Toronto Dominion Bank (0000947263)2,262,939(650.2 M)
Wells Fargo & Company (0000072971)1,807,537(519.4 M)
Bridgewater Associates, LP (0001350694)1,189,183(341.7 M)
National Mutual Insurance Federation Of Agricultural Cooperatives (0001542927)1,038,000(298.3 M)
Natixis (0001274981)1,000,000(287.3 M)
Bank of Montreal, CAN (0000927971)549,565(157.9 M)
First Republic Investment Management, Inc. (0001418204)490,063(140.8 M)
JP Morgan Chase & Co (0000019617)483,576(138.9 M)
Deutsche Bank AG (0000948046)483,367(138.9 M)
State Street Corporation (0000093751)286,126(82.2 M)
UBS Group AG (0001610520)162,810(46.8 M)
PNC Financial Services Group, Inc. (0000713676)154,651(44.4 M)
FMR LLC (0000315066)39,553(11.4 M)
Total31,081,507 

6.4 New Entrants in Top 40 institutional shareholders as at June 30, 2019
Institution (CIK)ETFsValue, $USD
Stifel Financial Corp (0000720672)3,187,421927.4 M
Optiver US LLC (0001716559)2,813,468818.6 M
AllianceBernstein (0001109448)2,670,131776.9 M
Stadion Money Management, LLC (0001321220)2,552,468742.7 M
Churchill Management Corp (0001094749)2,491,969725.1 M
Veritable, LP (0001300311)2,462,314716.4 M
Raymond James (0001084208)2,277,192662.6 M
Mackay Shields LLC (0000061227)2,221,073646.2 M
Suntrust Banks Inc. (0000750556)2,202,390640.8 M
Mackenzie Financial Corp (0000919859)2,116,018615.7 M
Total24,994,444 

6.5 Drop Outs from Top 40 institutional shareholders as at June 30, 2019
Institution (CIK)ETFsValue, $USD
Jane Street Group, LLC (0001595888)1,938,243563.9 M
DRW Securities, LLC (0001481986)516,885150.4 M
Varma Mutual Pension Insurance Co (0001698484)398,277115.9 M
Total2,853,405 

SECTION 7

PROFILE

7.1 Description
SPDR S&P 500 ETF Trust is an exchange-traded fund incorporated in the USA. The ETF tracks the S&P 500 Index. The Trust consists of a portfolio representing all 500 stocks in the S&P 500 Index. It holds predominantly large-cap U.S. stocks. This ETF reinvests dividends on a quarterly basis because it's structured as a Unit Investment Trust. The holdings are weighted by market capitalization.

7.2 SNAPSHOT
SPDR S&P 500 ETF Trust (NYSE:SPY)
ISIN: US78462F1030
Inception DateJanuary 22, 1993
Expense Ratio0.1% of average net assets
CategoryBlend - Large Cap
Fund Family NameState Street SPDR
Index TrackedS&P 500 Index
Asset ClassEquity ETF

7.3 Contact details
Websitehttps://www.spdrs.com/product/fund.seam?ticker=SPY
Physical AddressState Street Financial Center One Lincoln Street Boston, MA 02111 UNITED STATES
Phone1-866-787-2257

7.4 ETF Summary
Last$US308.33
Volume24,372,818
Volume Index (1 is avg)0.5
Market Cap$US279.8 billion
Day's Range307.27 - 308.94
52-Week Range230.55 - 309.65
Units Outstanding907,432,000
Relative Strength (3 mo)60

7.5 Fund Manager and Management Fees
+ The manager of the ETF is John Tucker. The management fee is 0.09% of total assets

SECTION 8

DIVIDEND

Dividend:1.4
Dividend Date:September 20, 2019
Dividend Yield:1.8%
Annual Dividend:$US5.48

SECTION 9

TOP HOLDINGS & PORTFOLIO ALLOCATION

9.1 Top Holdings (July 31, 2019)
HoldingsWeight (%)
Microsoft Corp4.3
Apple Inc3.6
Amazon.com Inc3.1
Facebook Inc1.9
Berkshire Hathaway Inc1.6
Alphabet Inc1.5
JPMorgan Chase & Co1.5
Alphabet Inc1.5
Johnson & Johnson1.4
Exxon Mobil Corp1.3

9.2 Sector Breakdown (May 31, 2019)
Sector%
Health Care14.1
Financials13.1
Communication Services10.3
Consumer Discretionary10.1
Industrials9.3
Consumer Staples7.4
Energy4.9
Utilities3.4
Real Estate3.2
Materials2.6

9.3 Market Cap Breakdown (June 03, 2019)
Market Cap%
Large92.3
Mid7.2
Other0.4
Small0.1
SPY.P
CIK: 884394
CUSIP: 78462F103

Source: www.BuySellSignals.com