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:ISPY) 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

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.