Pitti Group Wealth Management LLC Makes New $1.25 Million Investment in ProShares S&P 500 High Income ETF (NYSEARCA:ISPY)

Pitti Group Wealth Management LLC purchased a new position in ProShares S&P 500 High Income ETF (NYSEARCA:ISPYFree Report) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 28,281 shares of the company’s stock, valued at approximately $1,253,000. ProShares S&P 500 High Income ETF comprises approximately 1.3% of Pitti Group Wealth Management LLC’s portfolio, making the stock its 25th biggest position.

A number of other hedge funds have also made changes to their positions in the stock. Raymond James Financial Inc. acquired a new position in shares of ProShares S&P 500 High Income ETF during the fourth quarter worth approximately $49,268,000. Hennion & Walsh Asset Management Inc. grew its stake in shares of ProShares S&P 500 High Income ETF by 18.5% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 1,105,781 shares of the company’s stock worth $48,975,000 after purchasing an additional 172,752 shares during the last quarter. Capital Investment Advisors LLC bought a new stake in shares of ProShares S&P 500 High Income ETF in the 4th quarter worth approximately $11,903,000. Steward Partners Investment Advisory LLC lifted its stake in ProShares S&P 500 High Income ETF by 43.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 245,166 shares of the company’s stock valued at $10,858,000 after purchasing an additional 73,712 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co bought a new stake in ProShares S&P 500 High Income ETF during the fourth quarter worth approximately $7,330,000.

ProShares S&P 500 High Income ETF Stock Up 2.0 %

Shares of NYSEARCA ISPY opened at $42.57 on Monday. The stock’s fifty day simple moving average is $44.58 and its 200 day simple moving average is $44.68. The stock has a market capitalization of $670.48 million, a price-to-earnings ratio of 25.63 and a beta of 0.87. ProShares S&P 500 High Income ETF has a 52-week low of $39.85 and a 52-week high of $46.83.

ProShares S&P 500 High Income ETF Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, March 3rd were given a dividend of $0.1783 per share. The ex-dividend date of this dividend was Monday, March 3rd.

ProShares S&P 500 High Income ETF Profile

(Free Report)

The ProShares S&P 500 High Income ETF (ISPY) is an exchange-traded fund that is based on the S&P 500 Daily Covered Call index. The fund tracks an index pursuing a daily covered call writing strategy on the stocks of the S&P 500 Index. The fund seeks generate a high level of income combined with the performance returns of the S&P 500 Index over the long term.

Further Reading

Want to see what other hedge funds are holding ISPY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ProShares S&P 500 High Income ETF (NYSEARCA:ISPYFree Report).

Institutional Ownership by Quarter for ProShares S&P 500 High Income ETF (NYSEARCA:ISPY)

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