SPDR S&P 500 (SPY:$503.49) falls for a second consecutive day, a two-day fall of 0.4%
Thursday April 25, 2024
SPDR S&P 500 ETF Trust (NYSE:SPY $503.49), the largest Exchange Traded Fund by market cap in the United States, has fallen $1.92 (0.4%) for a second consecutive day on Thursday. This brought its two-day fall to $2.16 (0.4%).
Its MCap is $492.3 billion.
Cumulative volume in the 2 days was 0.7 times the average 2-day volume of 83.3 million units. The ETF last traded at $503.49.
ASSETS UNDER MANAGEMENT (AUM): $505.1 billion
Assets under management of SPDR S&P 500 were $505.1 billion as on Apr. 25, 2024.
Outflows of $3.6 billion comprised a drop of 0.699% in its AUM on that date.
| Net Flows [USD] | AUM [USD] | AUM Change % | |
| Today | -3.6 billion | 505.1 billion | -0.699 |
| 1 week | 7.9 billion | 497.3 billion | 1.583 |
| 1 month | -28.8 billion | 533.9 billion | -5.389 |
THE PAST WEEK [Price up 2.1% to $505.41]
In the past week the ETF rose on 2 days, fell on 2 days and was untraded on 1 day,.
| DAY | Headline | Close price [USD] | Price Change % | Comment |
| Apr 24 | (SPY:$505.41) falls on weak volume | 505.41 | -0.05 | |
| Apr 23 | (SPY:$505.65) rises for a second consecutive day, a two-day rise of 2.1% | 505.65 | 1.19 | Top Rise |
| Apr 22 | (SPY:$499.72) inches higher, resistance at 12-day EMA | 499.72 | 0.92 | |
| Apr 19 | (SPY:$495.16) in 6th consecutive fall, nears three-month low | 495.16 | -0.87 | Steepest Fall |
SECTION 1
SPDR S&P 500 BEARISH SIGNALSTechnicals:
+ The price dropped 3.4% in the last month.
+ The Moving Average Convergence Divergence (MACD) indicator of 12-day Exponential Moving Average (EMA) of 505.55 minus the 26-day EMA of 508.94 is negative 3.39 suggesting a bearish signal. Both EMA prices are falling, another bearish signal.
+ Falls to Rises: in the past month the number of falls outnumbered rises 15:8 or 1.9:1.
+ The ETF's relative price strength percentile is falling at 80 for 6 months, 59 for 3 months and 30 for 1 month.
SECTION 2
SPDR S&P 500 BULLISH SIGNALS2.1 Technicals:
+ The 4.0% discount to 12-month high of $524.61 against the 26.1% premium to 12-month low of $399.21 suggests the ETF continues to push for new highs.
+ In the last three months the ETF has hit a new 52-week high seventeen times, pointing to a significant uptrend.
+ The present value of $1,000 (PV1000) invested one year ago in SPDR S&P 500 is $1,268, comprising a capital gain of $254 and dividend reinvested of $14. A comparison with Morgan Stanley Capital International World Index [MSCI World] is shown below:
| PV$1000 | 1-week | 1-month | 1-year |
| SPY.P | 1,008 | 966 | 1,268 |
| MSCI World |
+ 5 years Multiplier in USD = 1.98x
+ Compound Annual Growth Rate (CAGR) in USD = 14.6%
2.2 High Performance Indicators:
| Description | Value | Rank In Market |
| Today's Turnover | $34.5 billion | In Top 1% |
| Price/MAP200 | 1.1 | In Top Quartile |
SECTION 3
PRICE VOLUME DYNAMICS
3.1 Trailing 3 months
| Turnover | $2,316.1 billion |
| Volume | 4,569,833,729 |
| Volume Index (1 is avg) | 0.8 |
3.2 Trailing Price Change %
| Price Change % | Quarter | Year | 3 Years |
| SPY | 3.2 | 25.4 | 25.9 |
| MSCI World | - | - | - |
3.3 MCap: 5-Year Increase of $212 B (75%)
In the past 5 years Market Capitalization has increased by $212.2 billion (75%) from $282 billion to $494.2 billion. Based on a dynamic start date of 5 years ago, there have been declines in MCap in 2 out of 5 years.
| Close Price | MCap ($ B) | |
| Last | $505.41 | 494.2 |
| 1 Year ago | $408.0 | 379.6 |
| 2 Years ago | $414.23 | 389.7 |
| 3 Years ago | $399.91 | 361.6 |
| 4 Years ago | $267.10 | 265.4 |
| 5 Years ago | $273.34 | 282 |
3.4 Moving Annual Return of 26.7% in the past year:
Moving Annual Return was 26.7% in the past year. Based on a dynamic start date of 5 years ago, the real rate of return has averaged 16.1%. The Moving Annual Return has been positive in 4 of the last 5 years.
| SPY | Close ($) | Dividends ($) | Capital Gain / (Loss) % | % Yield | Annual Return % |
| Apr 25 | 503.49 | 5.13 | 25.4 | 1.3 | 26.7 |
| 1 Yr ago | 401.52 | 6.47 | (3.1) | 1.6 | (1.5) |
| 2 Yrs ago | 414.23 | 5.82 | 3.6 | 1.5 | 5.0 |
| 3 Yrs ago | 399.91 | 2.65 | 48.7 | 1 | 49.6 |
| 4 Yrs ago | 269.01 | 5.79 | (1.5) | 2.1 | 0.6 |
Close 5 years ago $273.21
3.5 Year-on-Year Comparison (Trailing year - ended 29 Mar)
In the past 5 years, SPY has jumped 98.5% from 263.47 to 523.07 , an average annual compound rise of 14.7%.
| 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
| Close | 523.07 | 396.85 | 448.76 | 379.8 | 245.8 | 263.47 |
| % Price Change | 31.8 | -11.6 | 18.2 | 54.5 | -6.7 | 9.4 |
| Avg Daily Volume | 77,283,511 | 87,688,166 | 80,891,069 | 69,641,022 | 56,468,661 | 57,633,121 |
| VWP | 447.43 | 388.49 | 424.4 | 324.62 | 272.35 | 249.84 |
| Turnover Period | 21 d | 15 d | 17 d | 22 d | 23 d | 26 d |
| Price Range | 397.25 - 524.61 | 341.33 - 448.42 | 377.15 - 465.23 | 232.92 - 380.79 | 207.84 - 321.02 | 217.2 - 270.87 |
In the past 5 years average daily volume has jumped 34.1% from 57.6 million units to 77.3 million units. Turnover period has decreased from 26 days to 21 days.
Aggregate Volumes, Prices and Turnover Period:
[Volume Index or VI in brackets; 1 is average]
+ NYSE: SPY.P 68,570,600 [VI of 0.8] volume 100% of aggregate. Price: $503.49.
+ Singapore: S27.SP 81 [VI of 0.3] volume 0% of aggregate. Price: $505.80.
+ Aggregate volume: there were 68.6 million units of SPDR S&P 500 worth $34.5 billion traded today. The aggregate volume was 0.8 times average trading of 83 million units.
SECTION 4
RANKING4.1 Global Rank out of 4,110 ETFs
The present value of $US1,000 invested a year ago is $US1,268, ranking it 382 out of 4,110 ETFs.Its 6-month relative strength (or price percentile rank) in USD is 82.
| Description | Value | Rank | Quartile |
| Net Assets (US$) | 257.4B | 3 | Top |
| Price/NAV | 0.98 | 1318 | Second |
| Rel Strength 6 Mo (US$) | 82 | 726 | Top |
| PV$1000 (1Year) US$ | 1,268 | 382 | Top |
4.2 Rank in the Total United States ETF Market [out of 2,518 ETFs]
| Description | Value | Rank |
| Rel Strength 6 Mon ($) | 77 | 591 |
| PV1000-1Year ($) | 1,268 | 416 |
SECTION 5
ANALYST RECOMMENDATION| Date | Brokerage | Action | Current Rating | Past Rating |
| Apr 30,2022 | Morningstar, Inc. | Downgrade | 4 out of 5 |
SECTION 6
REPORTED BUYING AND SELLING6.1 Top 5 Institutional Holders of SPDR S&P 500 as at December 31, 2023
As at December 31, 2023, 3340 Institutions (Funds) held investments in units of SPDR S&P 500. Institutions increased their holdings to 62.3% of issued capital, up from 52.8% as at Sep 30. The largest unitholder was JP Morgan Chase & Co with 5% of SPDR S&P 500. The second largest unitholder was Goldman Sachs Group Inc. with 4%.
*Note: Minimum Core Unitholding is computed on the basis of SEC filings over the last 12 quarters (3 years). A higher % of unitholding above the minimum core holding may be indicative of a potential positioning by an active institution to overweight.
SPDR S&P 500 Top 3 Index Funds (in desc order of Units) hold 11.3% [second last column shows % above minimum core unitholding; last column shows percentile rank by AUM (Assets Under Management) among 6832 Funds]. Please download the spreadsheet to view full list of 1542 Index Funds holding 21.7% of SPDR S&P 500 as at December 31, 2023.
| Fund | Units | % of Total | Value $ | % above Core* | Percentile rank |
| JP Morgan Chase & Co (0000019617) | 51,894,144 | 5 | 24.7 B | 5 | 100 |
| Goldman Sachs Group Inc. (0000886982) | 38,252,350 | 4 | 18.2 B | 7 | 100 |
| Bank of America Corp, DE (0000070858) | 23,222,753 | 2 | 11 B | - | 100 |
| % Held by Top 3 Institutional unitholders | 113,369,247 | 11.3 | 53.9 B | - | - |
SPDR S&P 500 Top 2 Active Funds (in desc order of Units) hold 6.1% [second last column shows % above minimum core unitholding; last column shows percentile rank by AUM (Assets Under Management) among 6832 Funds]. Please download the spreadsheet to view full list of 1799 Active Funds holding 38.6% of SPDR S&P 500 as at December 31, 2023.
| Fund | Units | % of Total | Value $ | % above Core* | Percentile rank |
| Morgan Stanley (0000895421) | 33,614,375 | 3 | 16 B | 39 | 100 |
| Royal Bank Of Canada (0001000275) | 27,455,488 | 3 | 13 B | 415 | 100 |
| % Held by Top 2 Institutional unitholders | 61,069,863 | 6.1 | 29 B | - | - |
6.2 Institutional ownership of SPY at Dec 31: HPM Partners top increase of 506%
As at December 31, 2023, 44 institutions or 1.3% of SPY's institutional unitholders had increased their holding of units in SPDR S&P 500 from September 30. The top increase was by HPM Partners which increased its holding by 7.4 million units, or 506.2% to 8.9 million units.
Top 5 Increases [December 31, 2023 vs September 30, 2023]
Value is shown in the table below at December 31 SPY unit price of $475.31.
| Institution (CIK) | Units | Value, $ | % increase |
| HPM Partners LLC (0001566475) | 7,416,163 | 3.3 B | 506.2 |
| DRW Securities, LLC (0001481986) | 4,045,218 | 1.8 B | 266.0 |
| Leucadia National Corp (0000096223) | 1,980,977 | 880.3 M | 264.1 |
| HSBC Holdings PLC (0000873630) | 1,989,960 | 884.3 M | 248.5 |
| Citadel Advisors LLC (0001423053) | 3,105,016 | 1.4 B | 128.3 |
| Total | 18,537,334 | 8.2 billion | - |
6.3 Institutional ownership of SPY at Dec 31: Nissay Asset Management top decrease of 60%
31 Institutional unitholders decreased their holdings in Q4/2023. The top decrease was Nissay Asset Management who reduced their unitholding in SPDR S&P 500 by 1.8 million units (60.1%) from 3 million as at September 30 to 1.2 million as at December 31.
Top 5 Decreases [December 31, 2023 vs September 30, 2023]
Value is shown in the table below at December 31 SPY unit price of $475.31.
| Institution (CIK) | Units | Value, $ | % Decreases |
| NISSAY ASSET MANAGEMENT CORP /JAPAN/ /ADV (0000869589) | 1,783,365 | (792.5 M) | -60.1 |
| Jane Street Group, LLC (0001595888) | 14,582,325 | (6.5 B) | -59.2 |
| Natixis (0001274981) | 3,197,776 | (1.4 B) | -56.6 |
| SUN Life Financial Inc. (0001097362) | 966,006 | (429.3 M) | -52.8 |
| Millennium Management LLC (0001273087) | 5,550,760 | (2.5 B) | -48.0 |
| Total | 26,080,232 | (11.6 billion) | - |
6.4 Institutional ownership of SPY at Dec 31: Susquehanna International Group top new unitholder
An analysis conducted after the mid - quarter deadline of February 14 for Q4 SEC filings by 6997 institutions shows that there were 5 new institutional unitholders. Susquehanna International Group (1446194) was the largest new unitholder with 11.9 million units valued at $5.7 billion as at December 31.
Top 5 New unitholders as at December 31, 2023
Value is shown at price of December 31, 2023 (in desc order of Units)
Value is shown in the table below at December 31 SPY unit price of $475.31.
| Institution (CIK) | Units | Value, $ |
| Susquehanna International Group, LLP (0001446194) | 11,922,505 | 5.7 B |
| COMMONWEALTH EQUITY SERVICES, LLC (0000312272) | 1,919,187 | 912.2 M |
| JANA Partners Management, LP (0001998597) | 553,933 | 263.3 M |
| Avanda Investment Management Pte. Ltd. (0001650258) | 500,000 | 237.7 M |
| Bank of Hawaii (0000315080) | 216,918 | 103.1 M |
| Total | 15,112,543 | 7.2 billion |
6.5 Institutional ownership of SPY at Dec 31: Pathstone Family Office, LLC top exit
An analysis conducted after the mid - quarter deadline of February 14 for 20234 SEC filings by 6997 institutions shows that there were 5 exits. Pathstone Family Office, LLC was the largest exit with 2,390,409 units valued at 1 B as at December 31.
| Institution (CIK) | Units | Value, $ |
| Pathstone Family Office, LLC (0001511137) | 2,390,409 | 1 B |
| First Republic Investment Management, Inc. (0001418204) | 2,232,889 | 950.7 M |
| BREWIN DOLPHIN WEALTH MANAGEMENT LTD (0001954056) | 1,365,192 | 581.2 M |
| SUMITOMO LIFE INSURANCE COMPANY (0000937760) | 1,160,000 | 493.9 M |
| Shaolin Capital Management LLC (0001766806) | 650,000 | 276.7 M |
| Total | 7,798,490 | 3.3 billion |
SECTION 7
PROFILE7.1 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 Date | January 22, 1993 |
| Expense Ratio | 0.1% of average net assets |
| Category | Blend - Large Cap |
| Fund Family Name | State Street SPDR |
| Index Tracked | S&P 500 Index |
| Asset Class | Equity |
7.3 Contact Details
| Website | https://www.spdrs.com/product/fund.seam?ticker=SPY |
| Physical Address | State Street Financial Center One Lincoln Street Boston, MA 02111 UNITED STATES |
| Phone | 1-866-787-2257 |
7.4 SPDR S&P 500 (SPY) ETF Dashboard [traded in US Dollars, USD] End-of-Day Thu, Apr 25
https://www.spdrs.com/product/fund.seam?ticker=SPY
| Last | $503.49 | Market Cap | $492 billion |
| Units Outstanding | 977,780,000 | Exchange | ETF [BATS, Singapore, Tradegate, NYSE] |
| Institutional Ownership | 622,482,369 | % of units outstanding | 62.3% |
| Today's Volume | 68,570,681 | Sector | Blend Fund [of 104 stocks] |
| Ave Daily Volume | 83,291,227 units | Today's VI* | 0.8 |
| 52-Week Price Range | 399.21 - 524.61 | PV$1000 (1 yr) | $1,268 |
| Days Untraded in Past Month | 1/22 |
A year ago the SPDR S&P 500 unit price was $401.52. $1,000 would have bought 2.5 SPDR S&P 500 unit on that day. Those 2.5 Units would be worth $1,254 at today's unit price of $503.49. Dividends reinvested are worth $14. PV$1000= $1,268.
7.5 Fund Managers and Management Fees
+ The managers of the ETF are John A Tucker and Cyrus Taraporevala and John A Tucker and Steven Lipiner and Michael Feehily. The management fee is 0.09% of total assets
SECTION 8
DIVIDEND| Dividend: | 1.9 |
| Dividend Date: | December 15, 2023 |
| Dividend Yield: | 1.0% |
| Annual Dividend: | $5.13 |
SECTION 9
TOP HOLDINGS & PORTFOLIO ALLOCATION9.1 Top Holdings (March 11, 2024)
| Holdings | Weight (%) |
| Microsoft Corp | 7.2 |
| Apple Inc | 6.2 |
| NVIDIA Corp | 4.6 |
| Amazon.com Inc | 3.8 |
| Meta Platforms Inc Class A | 2.5 |
| Alphabet Inc Class A | 1.9 |
| Berkshire Hathaway Inc Class B | 1.7 |
| Alphabet Inc Class C | 1.6 |
| Eli Lilly and Co | 1.4 |
| Broadcom Inc | 1.3 |
9.2 Asset Allocation (January 12, 2024)
| Asset Class | % |
| Share/Common/Ordinary | 99.6 |
| CASH | 0.4 |
CIK: 884394
CUSIP: 78462F103
Source: www.BuySellSignals.com