27 May, 2020 (16:00:00 EST)

UPDATE: SPDR S&P 500 ETF hits three-month high on average volume


SPDR S&P 500 ETF Trust (NYSE:SPY), the largest Exchange Traded Fund by market cap in the United States, traded at its 83-day high of USD302.22. The ETF price has increased 30.0c (or 0.1%) from its last trading session of May 26 to close at USD301.26 The ETF rose for a second day on Wednesday bringing its two-day rise to USD6.30 or 2.1%. Compared with the Morgan Stanley Capital International USA Index [MSCI USA] which rose 119.2 points (1.5%) in the day, the relative price change was -1.4%. The volume of 64.9 million units was close to average trading. Its MCap is USD267.7 billion.

THE PAST WEEK [Price down 0.7% to USD294.96; NAV down 0.9% to USD294.72]
SPDR S&P 500 ETF NAV fell in 2 out of last 3 days.
DAYComment on PriceClose price [USD]NAV [USD]NAV ChangeComment on NAV
May 22Increases against the trend294.96294.721-2.285 
May 21Decreases 0.8% on below average volume294.68297.0054.905Top Rise
May 20In 5th consecutive rise, nears four-month high296.93292.1-3.061Steepest Fall


THE PAST FIVE YEARS

SPDR S&P 500 ETF surges 58% in 5 years

SPDR S&P 500 ETF Trust (P:SPY), has surged USD110.29 (or 57.8%) in the past five years to close at USD301.26 today. Compared with the Morgan Stanley Capital International USA Index which has risen 54.9% 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 294.51 minus the 26-day EMA of 290.05 is positive 4.46 suggesting a bullish signal.
+ Rises to Falls: in the past month the number of rises outnumbered falls 15:7 or 2.1:1.
+ The present value of USD1,000 (PV1000) invested one year ago in SPDR S&P 500 ETF is USD1,114, comprising a capital gain of USD91 and dividend reinvested of USD23. 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.P1,0151,0481,114
MSCI World1,0211,0641,020
MSCI USA1,0221,0691,095
+ The present value of USD1,000 (PV1000) invested ten years ago in SPDR S&P 500 ETF is USD3,101, for a capital gain of USD2,101.
+ 10 years Multiplier in USD = 3.101x
+ Compound Annual Growth Rate (CAGR) in USD = 12.0%

1.2 High Performance Indicator:
DescriptionValueRank In Market
Today's TurnoverUSD20.1 billionIn Top 1%

SECTION 2

SPDR S&P 500 ETF BEARISH SIGNALS

2.1 Technicals:
+ In the last three months the ETF has hit a new 52-week low five times, pointing to a downtrend.

2.2 Overbought/Bearish/Resistance Signals:
+ The ETF is overbought according to the Williams % R indicator of -3.3, suggesting the price is close to its 14-day high of USD302.22.

SECTION 3

PRICE VOLUME DYNAMICS


3.1 Volatility:
+ SPDR S&P 500 ETF is at a discount of 10.6% to its 12-month high of USD337.11 on February 19. It is also at a premium of 38.0% to the 12-month low of USD218.26 on March 23.

3.2 The Best 2 weeks in the past quarter [Relative Price Change or RPC]
Mon-FriChange %MSCI USA Change %RPC %Vol Ind [1 is avg]
May 18-223.43.400.8
May 04-083.33.9-0.50.8

3.3 Trailing 3 months
TurnoverUSD2,039.6 billion
Volume7,590,845,462
Volume Index (1 is avg)1.8

3.4 Trailing Price Change %
3-Year price change of 32.1% for SPY outperformed the change of 11.8% in the Morgan Stanley Capital International World Index [MSCI World] for a relative price change of 20.3%.
Price Change %QuarterYear3 Years
SPY-0.49.132.1
MSCI World-1.8211.8

3.5 MCap: 5-Year Increase of USD90 billion
In the past 5 years Market Capitalization has increased by USD90.5 billion (51%) from USD177 billion to USD267.4 billion. Based on a dynamic start date of 5 years ago, there has been no decline in MCap over the last 5 years.
 Close PriceMCap (US$ B)
LastUSD300.96267.4
1 Year agoUSD276.11266.9
2 Years agoUSD261.16261.3
3 Years agoUSD227.99231.7
4 Years agoUSD193.37182
5 Years agoUSD192.67177

3.6 Moving Annual Return of 11.2% in the past year:
Moving Annual Return was 11.2% in the past year. Based on a dynamic start date of 5 years ago, the real rate of return has averaged 11.9%. The Moving Annual Return has consistently exceeded 3%.
SPYClose (USD)Dividends (USD)Capital Gain %% YieldAnnual Return %
May 27301.265.799.12.111.2
1 Yr ago276.115.245.727.7
2 Yrs ago261.164.8714.52.116.6
3 Yrs ago228.14.5217.72.320.1
4 Yrs ago193.724.321.42.33.7

Close 5 years ago USD190.97

3.7 Year-on-Year Comparison (Trailing year - ended 30 Apr)

In the past 5 years, SPY has jumped 53.3% from 188.93 to 289.56 , an average annual compound rise of 8.9%.
 202020192018201720162015
Close289.56288254.88224.42190.65188.93
% 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 Range218.26 - 337.11228.08 - 288.56212.88 - 274.74179.16 - 225.97166.36 - 195.19164.63 - 192.73

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.

Aggregate Volumes, Prices and Turnover Period:
[Volume Index or VI in brackets; 1 is average]
+ NYSE: SPY.P 67,036,736 [VI of 1.0] volume 99.999% of aggregate. Price: USD301.26.
+ Singapore: S27.SP 490 [VI of 1.8] volume 0.001% of aggregate. Price: USD301.55.
+ Aggregate volume: there were 67 million units of SPDR S&P 500 ETF worth USD20.1 billion traded today. The aggregate volume equalled average trading of 64.9 million units.

SECTION 4

RANKING

4.1 Global Rank out of 5,447 ETFs
The present value of $US1,000 invested a year ago is $US1,114, ranking it 585 out of 5,447 ETFs.Its 6-month relative strength (or price percentile rank) in USD is 79.
DescriptionValueRankQuartile
MCap (US$)267.7B2Top
Net Assets (US$)257.4B5Top
Price/NAV1.02834Top
Rel Strength 6 Mo (US$)791132Top
PV$1000 (1Year) US$1,114585Top

4.2 Rank in the Total United States ETF Market [out of 1,693 ETFs]
DescriptionValueRank
Rel Strength 6 Mon (USD)66582
PV1000-1Year (USD)1,114273

SECTION 5

ANALYST RECOMMENDATION

DateBrokerageActionCurrent RatingPast Rating
Mar 31,2020XTF Inc.Upgrade9.8 out of 109.8 out of 10
Jan 31,2020Morningstar, Inc.Upgrade5 out of 59.8 out of 10

SECTION 6

REPORTED BUYING AND SELLING

Top 100 Institutional Holders of SPDR S&P 500 ETF as at March 31, 2020
As at March 31, 2020, 2165 Institutions held investments in SPDR S&P 500 ETF. Institutions had increased their holdings to 70.58% of issued capital, up from 62.71% nine months ago. The top 100 institutional shareholders held 59.4% units of SPDR S&P 500 ETF. The largest shareholder was JP Morgan Chase & Co with 8.0% of SPDR S&P 500 ETF. The second largest shareholder was Bank of America with 6.7%.
*Note: Minimum Core Shareholding is computed on the basis of SEC filings over the last 12 quarters (3 years). A higher % of shareholding above the minimum core holding may be indicative of a potential positioning by the institution to overweight.

Institution (CIK)ETFsHolding %Value $USDMinimum Core Holding*% Above Min Core Holding*
JP Morgan Chase & Co (0000019617)70,999,9708.018.4 B70,999,9700
Bank of America (0000070858)59,914,4006.715.6 B28,194,655113
Morgan Stanley (0000895421)53,212,6366.013.8 B26,781,92999
Goldman Sachs Group (0000886982)50,300,2685.713.1 B37,093,51435.6
Barclays (0000312069)28,162,9553.27.3 B2,352,2371,097
Wells Fargo & Co (0000072971)16,728,3601.94.3 B14,209,03117.7
UBS Group (0001610520)15,726,5651.84.1 B12,992,35721.0
TD Asset Management (0001056053)15,178,5531.73.9 B6,744,281125
Northern Trust (0000073124)14,159,8741.63.7 B10,552,63934.2
BNP Paribas Arbitrage (0001166588)10,793,3691.22.8 B934,0621,056
Citigroup (0000831001)9,010,7861.02.3 B5,137,10375
Durable Capital Partners (0001798849)8,378,5230.942.2 B7,763,0857.9
Credit Suisse (0000824468)6,908,9530.781.8 B852,876710
U.S. Bancorp (DE) (0000036104)5,706,0100.641.5 B5,506,4143.6
PNC Financial Services Group (0000713676)5,620,6320.631.5 B5,620,6320
Jane Street Group (0001595888)5,542,9670.621.4 B15,88134,803
Healthcare of Ontario Pension Plan Trust Fund (0001535845)5,441,3830.611.4 B5,441,3830
Natixis (0001274981)5,051,0470.571.3 B650,000677
Ameriprise Financial (0000820027)4,789,1200.541.2 B4,789,1200
Envestnet Asset Management (0001407543)4,609,1340.521.2 B2,611,63376
FMR (0000315066)4,584,7950.521.2 B4,584,7950
Northwestern Mutual Wealth Management Co (0001141802)4,505,4820.511.2 B3,574,59326.0
Royal Bank of Canada (0001000275)4,458,6980.51.2 B4,458,6980
State Street (0000093751)4,269,5990.481.1 B4,269,5990
National Mutual Insurance Federation Ofricultural Cooperatives (0001542927)4,125,8320.461.1 B4,125,8320
LPL Financial (0001403438)4,027,2910.451 B2,652,32252
The Norinchukin Bank (0001496637)4,019,0000.451 B4,019,0000
Blackrock (0001364742)3,972,4450.451 B1,521,386161
Bridgewater Associates (0001350694)3,564,0430.4925.6 M3,564,0430
BB&T (0000092230)3,513,7800.4912.5 M372,243844
Dupont Capital Management (0001128251)3,117,7880.35809.7 M1,824170,831
Manufacturers Life Insurance (0000928047)3,010,8770.34781.9 M1,736,22873
First Republic Investment Management (0001418204)2,957,6020.33768.1 M2,831,4604.5
Commonwealth of Pennsylvania Public School Empls Retrmt Sys (0001083190)2,830,6830.32735.1 M1,421,67899
Stifel Financial (0000720672)2,712,9260.31704.5 M5,89745,905
Bank of New York Mellon (0001390777)2,692,3030.3699.2 M1,608,35867
Raymond James (0001084208)2,666,4570.3692.5 M1,713,61856
Mackenzie Financial (0000919859)2,350,7250.26610.5 M449,992422
Veritable (0001300311)2,300,3660.26597.4 M2,300,3660
William Blair Investment Management (0001644956)2,141,6000.24556.2 M1,368,92456
Liberty Mutual Group Asset Management (0001533497)2,054,0460.23533.4 M70,5762,810
AllianceBernstein (0001109448)2,035,0280.23528.5 M2,035,0280
Calamos Advisors (0001316507)1,976,1550.22513.2 M817241,779
Daido Life Insurance Co (0001173460)1,964,7120.22510.2 M174,5011,026
Mackay Shields (0000061227)1,963,7820.22510 M1,742,00912.7
Bank of Montreal (0000927971)1,819,3340.2472.5 M1,718,1635.9
Raymond James Financial Services Advisors (0001462284)1,798,2450.2467 M999,86880
Ally Financial (0000040729)1,510,0000.17392.1 M40,0003,675
Parallax Volatility Advisers (0001521001)1,466,2100.16380.8 M534,509174
Toronto Dominion Bank (0000947263)1,453,9250.16377.6 M63,9372,174
HSBC Holdings (0000873630)1,445,1840.16375.3 M782,16385
Swan Global Investments (0001591505)1,415,3170.16367.6 M1,415,3170
Trust Asset Management (0001608376)1,397,2580.16362.9 M851,643,733
Sullivan, Bruyette, Speros & Blaney (0001599904)1,373,7400.15356.8 M1,320,5334.0
Tower Research Capital (TRC) (0001533421)1,338,4400.15347.6 M12,18710,883
White Mountains Advisors (0001253840)1,335,5180.15346.8 M1,335,5180
Thrivent Financial for Lutherans (0000314984)1,256,8320.14326.4 M529,888137
Municipal Employees Retirement System of Michigan (0001588873)1,250,1930.14324.7 M1,250,1930
Creative Planning (0001540235)1,212,7290.14314.9 M1,061,24814.3
Luxor Capital Group (0001316580)1,142,0470.13296.6 M14,8497,591
Pentwater Capital Management (0001425851)1,126,5000.13292.6 M5,00022,430
Deutsche Bank (0000948046)1,088,0630.12282.6 M28,6893,693
Parametric Portfolio Associates (0000932859)1,058,7490.12275 M1,058,7490
Fifth Third Bancorp (0000035527)1,037,6590.12269.5 M881,58217.7
Nippon Life Insurance Co (0000905591)1,037,0770.12269.3 M1,037,0770
Etrade Capital Management (0001512581)1,029,6050.12267.4 M1,011,5221.8
South Dakota Investment Council (0001538846)1,022,9000.12265.6 M4,29023,744
Sand Hill Global Advisors (0001009209)1,003,6620.11260.7 M56,2051,686
Michael & Susan Dell Foundation (0001599858)993,6370.11258 M993,6370
Schwab Charles Investment Management (0000884546)975,0550.11253.2 M99697,797
Swiss Re (0001519921)953,9000.11247.7 M822,20016.0
Gradient Investments (0001542265)949,4590.11246.6 M3,36728,099
Sumitomo Mitsui Financial Group (0001022837)931,4390.1241.9 M37,3762,392
Elo Mutual Pension Insurance Co (0001739877)927,0000.1240.7 M600,00054
Itau Unibanco Holding (0001132597)920,4560.1239 M69,7591,219
AssetMark (0001344551)875,1590.1227.3 M875,1590
SUN Life Financial (0001097362)867,8360.1225.4 M269,678222
BBR Partners (0001352467)854,1820.1221.8 M668,35127.8
Prudential Financial (0001137774)842,3850.09218.8 M842,3850
Bingham Osborn & Scarborough (0001276673)841,9490.09218.7 M841,9490
Citadel Advisors (0001423053)819,1450.09212.7 M14,7285,462
Brown Advisory (0001345929)774,9130.09201.2 M601,94328.7
Centiva Capital (0001692507)746,1520.08193.8 M5,14014,417
DZ BANK Deutsche Zentral Genossenschafts Bank (0001694217)744,0280.08193.2 M549,39735.4
Boston Private Wealth (0001626116)734,4870.08190.7 M82,679788
XR Securities (0001531971)719,7790.08186.9 M37,0191,844
Jabodon Pt Co (0001594167)713,4330.08185.3 M200,000257
M&T Bank (0000036270)706,5920.08183.5 M706,5920
Valeo Financial Advisors (0001722641)706,3530.08183.4 M518,67736.2
Wellington Management Group (0000902219)681,7820.08177.1 M415,00264
Mariner Wealth Advisors (0001373442)680,5430.08176.7 M110,056518
Metlife Investment Advisors (0001529735)679,4440.08176.5 M79,038760
Howard Hughes Medical Institute (0000810386)663,5000.07172.3 M17,0003,803
Great West Life Assurance Co (0001046192)642,2080.07166.8 M545,28417.8
Whittier Trust Co (0001137881)640,3860.07166.3 M597,7897.1
Private Advisor Group (0001567755)636,2910.07165.2 M180,934252
Northwestern Mutual Investment Management Co (0001629649)627,6000.07163 M44,2001,320
Circle Wealth Management (0001578242)620,8050.07161.2 M248,894149
Captrust Financial Advisors (0001512024)617,3780.07160.3 M617,3780
Price T Rowe Associates (0000080255)616,3850.07160.1 M4,14214,781
Held by Top 100528,374,36859.41137.2 billion - -

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

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
May 27 closeUSD301.26
Ave Daily Volume64,900,007 shares
52-Week Range218.26 - 337.11
Dividend Yield1.9%
SectorBlend Fund
Units Outstanding888,632,000
No. Held by Institutions627,159,004
% of shares outstanding70.58%
Market CapUSD267.7 billion

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:March 20, 2020
Dividend Yield:1.9%
Annual Dividend:USD5.79

SECTION 9

TOP HOLDINGS & PORTFOLIO ALLOCATION

9.1 Top Holdings (April 28, 2020)
HoldingsWeight (%)
Microsoft Corp5.6
Apple Inc5
Amazon.com Inc4.1
Facebook Inc1.9
Johnson & Johnson1.7
Alphabet Inc1.6
Berkshire Hathaway Inc1.5
JPMorgan Chase & Co1.2
Procter & Gamble Co1.2

9.2 Sector Breakdown (January 28, 2020)
Sector%
Health Care14
Financials12.5
Communication Services10.6
Consumer Discretionary9.5
Industrials9
Consumer Staples7.2
Energy3.9
Utilities3.5
Real Estate3
Materials2.5

9.3 Market Cap Breakdown (January 29, 2020)
Market Cap%
Large90.6
Mid9
Small0.3
Other0.1
SPY.P
CIK: 884394
CUSIP: 78462F103

Source: www.BuySellSignals.com