NEWS BITES - ETF
SPDR Dow Jones Industrial Average ETF Trust (NYSE:DIA), the 38th largest Exchange Traded Fund by market cap in the United States, hit a 52-week high of $US275.0 during the day, but closed lower at $US268.10. In the last three months the ETF has hit a new 52-week high twice. The ETF price has decreased $US2.50 (or 0.9%) from its last trading session of October 17 to close at $US268.10. Compared with the Morgan Stanley Capital International USA Index [MSCI USA] which fell 32.2 points (0.4%) in the day, the relative price change was -0.5%. Its MCap is $US21.5 billion.
NET ASSET VALUE release date 17 October, 2019
The Net Asset Value (NAV) of the ETF is $US270.0 and it last traded at a discount of 0.702% to NAV.
| DIA | Today | 1 Day ago | Week ago | Month ago |
| Price, USD | 268.1 | 270.35 | 269.78 | 268.86 |
| NAV, USD | 270.0 | 270.22 | 264.96 | 271.61 |
| Price/NAV | 0.99 | 1.0 | 1.02 | 0.99 |
| MSCI USA | 8,026.92 | 8,059.1 | 7,986.58 | 8,078.49 |
THE PAST WEEK [Price up 0.3% to $US270.60; NAV up 1.9% to $US270.0]
SPDR Dow Jones Industrial Average ETF NAV rises in 3 out of last 5 days.
| DAY | Comment on Price | Close price [USD] | NAV [USD] | NAV Change | Comment on NAV |
| Oct 17 | Increases on weak volume | 270.6 | 269.995 | -0.229 | |
| Oct 16 | decreases on weak volume | 270.35 | 270.224 | 2.369 | |
| Oct 15 | rises in 4 out of last 5 days | 270.78 | 267.855 | -0.293 | Steepest Fall |
| Oct 14 | Decreases 0.6% on low volume | 268.1 | 268.148 | 3.191 | Top Rise |
| Oct 11 | Rises in 4 out of last 5 days | 269.78 | 264.957 | 1.503 |
THE PAST FOUR YEARS
SPDR Dow Jones Industrial Average ETF rises for a fourth consecutive year, a four-year rise of 71%
SPDR Dow Jones Industrial Average ETF Trust (P:DIA), extended its rise from 30.8% three years ago to 11.8% two years ago to 8.0% a year ago. In the past four years it has risen $US111.03 (70.7%), compared with the Morgan Stanley Capital International USA Index which rose 2,855.7 points (55.2%) in the four years for a relative price increase of 15.5%.
SECTION 1
SPDR DOW JONES INDUSTRIAL AVERAGE ETF BULLISH SIGNALS
1.1 Technicals:
+ The Moving Average Convergence Divergence (MACD) indicator of 12-day Exponential Moving Average (EMA) of 268.05 minus the 26-day EMA of 267.29 is positive 0.76 suggesting a bullish signal. Both EMA prices are rising, another bullish signal.
+ The 2.5% discount to 12-month high of $US275.0 against the 25.7% premium to 12-month low of $US213.34 suggests the ETF continues to push for new highs.
+ In the last three months the ETF has hit a new 52-week high twice.
+ The present value of $US1,000 (PV1000) invested one year ago in SPDR Dow Jones Industrial Average ETF is $US1,105, comprising a capital gain of $US80 and dividend reinvested of $US25. A comparison with Morgan Stanley Capital International World Index [MSCI World] and Morgan Stanley Capital International USA Index [MSCI USA] is shown below:
| PV$1000 | 1-week | 1-month | 1-year |
| DIA.P | 994 | 1,000 | 1,105 |
| MSCI World | 1,007 | 1,009 | 1,063 |
| MSCI USA | 1,005 | 1,009 | 1,094 |
+ The present value of USD1,000 (PV1000) invested ten years ago in SPDR Dow Jones Industrial Average ETF is $US3,402, for a capital gain of $US2,402.
+ 10 years Multiplier in USD = 3.402x
+ Compound Annual Growth Rate (CAGR) in USD = 13.0%
1.2 High Performance Indicator:
| Description | Value | Rank In Market |
| Today's Turnover | $US419.2 million | In Top 2% |
SECTION 2
SPDR DOW JONES INDUSTRIAL AVERAGE ETF BEARISH SIGNALS
2.1 Technicals:
+ The price decreased 0.6% in the last week and 0.3% in the last month.
2.2 Overbought/Bearish/Resistance Signals:
+ The Stochastic indicator of 89.9 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.
2.3 Low Performance Indicators:
| Description | Value | Rank In Market |
| % Prem to Vol Wtd Price | 0.4 | In Bottom Quartile |
| Price Change % | -0.9 | In Bottom Quartile |
| Volatility % | 2.6 | In Bottom 5% |
SECTION 3
PRICE VOLUME DYNAMICS
3.1 Momentum:
+ Volume: there were 1,550,807 units worth $US419.2 million traded today. In the past week, volume was 0.5 times average and the units were down 0.6%. The volume was 0.5 times the average daily trading of 2.9 million units.
3.2 The Best 3 weeks in the past quarter [Relative Price Change or RPC]
| Mon-Fri | Change % | MSCI USA Change % | RPC % | Vol Ind [1 is avg] |
| Aug 26-30 | 2.7 | 2.7 | -0.1 | 0.7 |
| Sep 02-06 | 1.8 | 1.8 | 0 | 0.7 |
| Oct 07-11 | 1.8 | 0.7 | 1.1 | 0.6 |
3.3 The Worst 3 weeks in the past quarter [Relative Price Change or RPC]
| Mon-Fri | Change % | MSCI USA Change % | RPC % | Vol Ind [1 is avg] |
| Jul 29-Aug 02 | -2.8 | -3.1 | 0.3 | 1.1 |
| Sep 23-27 | -1 | -1 | 0 | 0.7 |
| Sep 30-Oct 04 | -0.9 | -0.3 | -0.6 | 1 |
3.4 Trailing 3 months
| Turnover | US$41.6 billion |
| Volume | 157,106,848 |
| Volume Index (1 is avg) | 0.8 |
3.5 Trailing Price Change %
3-Year price change of 58.6% for DIA outperformed the change of 30.1% in the Morgan Stanley Capital International World Index [MSCI World] for a relative price change of 28.5%.
| Price Change % | Quarter | Year | 3 Years |
| DIA | -1 | 8 | 58.6 |
| MSCI World | -0.1 | 5.1 | 30.1 |
3.6 MCap: 5-Year Perspective
In the past 5 years Market Capitalization has increased by $US10.5 billion from $US11.2 billion to $US21.7 billion. Based on a dynamic start date of 5 years ago, there has been only 1 decline in MCap over the last 5 years.
| Close Price | MCap (US$ B) | |
| Last | $US270.60 | 21.7 |
| 1 Year ago | $US251.26 | 22.5 |
| 2 Years ago | $US219.70 | 18.8 |
| 3 Years ago | $US169.69 | 11.7 |
| 4 Years ago | $US157.07 | 11.6 |
| 5 Years ago | $US143.70 | 11.2 |
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 15.9%. The Moving Annual Return has consistently exceeded 10%.
| DIA | Close (USD) | Dividends (USD) | Capital Gain % | % Yield | Annual Return % |
| Oct 18 | 268.1 | 5.77 | 8 | 2.3 | 10.4 |
| 1 Yr ago | 248.14 | 5.31 | 12.6 | 2.4 | 15.0 |
| 2 Yrs ago | 220.41 | 4.9 | 30.4 | 2.9 | 33.3 |
| 3 Yrs ago | 169.05 | 4.3 | 7.6 | 2.7 | 10.4 |
| 4 Yrs ago | 157.07 | 3.91 | 7.6 | 2.7 | 10.2 |
Close 5 years ago $US146.04
3.8 Year-on-Year Comparison (Trailing year - ended 30 Sep)
In the past 5 years, DIA has jumped 77.7% from 151.82 to 269.76, an average annual compound rise of 12.2%.
| 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
| Close | 269.76 | 258.42 | 214.39 | 170.92 | 148.02 | 151.82 |
| % Price Change | 14.6 | 20 | 0.8 | 4.7 | 13.5 | 15.6 |
| Avg Daily Volume | 2,973,374 | 1,322,360 | 2,666,554 | 4,541,157 | 6,922,993 | 6,774,310 |
| VWP | 243.69 | 196.22 | 169.46 | 172.91 | 158.39 | 138.35 |
| Turnover Period | 43 d | 2 mo | 38 d | 21 d | 15 d | 20 d |
| Price Range | 213.34 - 272.79 | 214.55 - 261.65 | 167.38 - 214.58 | 141.88 - 174.08 | 137.33 - 165.94 | 128.43 - 154.72 |
In the past 5 years average daily volume has declined 56.1% from 6.8 million units to 3 million units. Turnover period has increased from 20 days to 43 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 4,908 ETFs
The present value of $US1,000 invested a year ago is $US1,105, ranking it 1178 out of 4,908 ETFs. Its 6-month relative strength (or price percentile rank) in USD is 76.
| Description | Value | Rank | Quartile |
| MCap (US$) | 21.5B | 48 | Top |
| Net Assets (US$) | 20.8B | 55 | Top |
| Price/NAV | 1.0 | 957 | Top |
| Rel Strength 6 Mo (US$) | 76 | 1199 | Top |
| PV$1000 (1Year) US$ | 1,105 | 1178 | Top |
4.2 Rank in the Total United States ETF Market [out of 1,481 ETFs]
| Description | Value | Rank |
| Rel Strength 6 Mon ($US) | 57 | 633 |
| PV1000-1Year ($US) | 1,105 | 578 |
SECTION 5
ANALYST RECOMMENDATION
| Date | Brokerage | Action | Current Rating | Past Rating |
| Aug 30,2019 | XTF Inc. | Downgrade | 9.7 out of 10 | 9.7 out of 10 |
SECTION 6
REPORTED BUYING AND SELLING
6.1 Top 40 Institutional Holders of SPDR Dow Jones Industrial Average ETF as at June 30, 2019
The top 40 institutional shareholders held 27.6% units of SPDR Dow Jones Industrial Average ETF. The largest shareholder was Bank of America Corp, DE with 7.53% of SPDR Dow Jones Industrial Average ETF. The second largest shareholder was Morgan Stanley with 3.65%.
| Institution (CIK) | ETFs | Holding % | Value $USD | Unrealised Gain/(Loss)* |
| Bank of America Corp, DE (0000070858) | 6,053,845 | 7.53 | 1.6 B | 35 M |
| Morgan Stanley (0000895421) | 2,936,070 | 3.65 | 775.1 M | 17 M |
| Wells Fargo & Company (0000072971) | 1,819,149 | 2.26 | 480.2 M | 10.5 M |
| Royal Bank Of Canada (0001000275) | 1,553,261 | 1.93 | 410.1 M | 9 M |
| UBS Group AG (0001610520) | 1,269,036 | 1.58 | 335 M | 7.3 M |
| LPL Financial LLC (0001403438) | 816,808 | 1.02 | 215.6 M | 4.7 M |
| Ameriprise Financial Inc. (0000820027) | 553,228 | 0.69 | 146 M | 3.2 M |
| Goldman Sachs Group Inc. (0000886982) | 548,232 | 0.68 | 144.7 M | 3.2 M |
| Two Sigma Investments LLC (0001179392) | 505,685 | 0.63 | 133.5 M | 2.9 M |
| Barclays PLC (0000312069) | 487,132 | 0.61 | 128.6 M | 2.8 M |
| SG Americas Securities LLC (0001313360) | 438,198 | 0.54 | 115.7 M | 2.5 M |
| Natixis (0001274981) | 345,150 | 0.43 | 91.1 M | 2 M |
| Sumitomo Mitsui Financial Group, Inc. (0001022837) | 340,000 | 0.42 | 89.8 M | 2 M |
| PNC Financial Services Group, Inc. (0000713676) | 276,756 | 0.34 | 73.1 M | 1.6 M |
| Ladenburg Thalmann Financial Services Inc. (0001029730) | 246,153 | 0.31 | 65 M | 1.4 M |
| Raymond James (0001084208) | 229,616 | 0.29 | 60.6 M | 1.3 M |
| Arkansas Financial Group, Inc. (0000764611) | 226,195 | 0.28 | 59.7 M | 1.3 M |
| Envestnet Asset Management Inc. (0001407543) | 219,960 | 0.27 | 58.1 M | 1.3 M |
| Raymond James Financial Services Advisors, Inc. (0001462284) | 216,891 | 0.27 | 57.3 M | 1.3 M |
| Northwestern Mutual Wealth Management Co (0001141802) | 207,872 | 0.26 | 54.9 M | 1.2 M |
| Williams Jones & Associates LLC (0000949743) | 199,570 | 0.25 | 52.7 M | 1.2 M |
| Deutsche Bank AG (0000948046) | 196,685 | 0.24 | 51.9 M | 1.1 M |
| Two Sigma Advisers, LLC (0001478735) | 178,600 | 0.22 | 47.1 M | 1 M |
| Hightower Advisors, LLC (0001462245) | 178,543 | 0.22 | 47.1 M | 1 M |
| Cambridge Investment Research Advisors, Inc. (0001419186) | 170,500 | 0.21 | 45 M | 986,479 |
| Suntrust Banks Inc. (0000750556) | 168,899 | 0.21 | 44.6 M | 977,216 |
| Credit Suisse AG (0000824468) | 162,881 | 0.2 | 43 M | 942,397 |
| JP Morgan Chase & Co (0000019617) | 160,367 | 0.2 | 42.3 M | 927,851 |
| TAIYO LIFE INSURANCE CO (0001254890) | 160,000 | 0.2 | 42.2 M | 925,728 |
| Bank of Montreal, CAN (0000927971) | 158,928 | 0.2 | 42 M | 919,525 |
| Piershale Financial Group, Inc. (0001554815) | 156,392 | 0.19 | 41.3 M | 904,853 |
| Advisor Group, Inc. (0001681115) | 146,970 | 0.18 | 38.8 M | 850,339 |
| The Financial Advisory Group (0001539338) | 124,192 | 0.15 | 32.8 M | 718,550 |
| Private Advisor Group, LLC (0001567755) | 117,521 | 0.15 | 31 M | 679,953 |
| Long Pond Capital, LP (0001499066) | 116,390 | 0.14 | 30.7 M | 673,409 |
| Citigroup Inc. (0000831001) | 112,253 | 0.14 | 29.6 M | 649,473 |
| HSBC Holdings PLC (0000873630) | 110,652 | 0.14 | 29.2 M | 640,210 |
| BB&T Securities, LLC (0001383161) | 106,857 | 0.13 | 28.2 M | 618,253 |
| First Republic Investment Management, Inc. (0001418204) | 105,273 | 0.13 | 27.8 M | 609,088 |
| Manufacturers Life Insurance Company (0000928047) | 90,300 | 0.11 | 23.8 M | 522,458 |
| Held by Top 40 | 22,211,010 | 27.6 | 5.9 billion |
*Note: Unrealised profit/(loss) is computed on the basis of ETFs held at end of quarter times current price of $US269.78 less price at end of quarter of $US263.99.
6.2 Major Increases in Top 40 institutional shareholders June 30, 2019 vs March 31, 2019
Bank of America Corp, DE increased their shareholding in SPDR Dow Jones Industrial Average ETF by 2.1 million units worth USD 558.9 million. Royal Bank Of Canada increased their shareholding by 906,870 units worth USD 236 million.
| Institution (CIK) | Increase in ETFs | Change, $USD |
| Bank of America Corp, DE (0000070858) | 2,147,861 | 558.9 M |
| Royal Bank Of Canada (0001000275) | 906,870 | 236 M |
| SG Americas Securities LLC (0001313360) | 326,394 | 84.9 M |
| Barclays PLC (0000312069) | 236,813 | 61.6 M |
| UBS Group AG (0001610520) | 140,656 | 36.6 M |
| LPL Financial LLC (0001403438) | 132,525 | 34.5 M |
| Wells Fargo & Company (0000072971) | 83,539 | 21.7 M |
| Bank of Montreal, CAN (0000927971) | 63,964 | 16.6 M |
| Goldman Sachs Group Inc. (0000886982) | 60,792 | 15.8 M |
| Piershale Financial Group, Inc. (0001554815) | 36,501 | 9.5 M |
| Envestnet Asset Management Inc. (0001407543) | 27,375 | 7.1 M |
| HSBC Holdings PLC (0000873630) | 21,885 | 5.7 M |
| Natixis (0001274981) | 17,498 | 4.6 M |
| Suntrust Banks Inc. (0000750556) | 16,093 | 4.2 M |
| Ladenburg Thalmann Financial Services Inc. (0001029730) | 15,016 | 3.9 M |
| Northwestern Mutual Wealth Management Co (0001141802) | 13,263 | 3.5 M |
| Raymond James Financial Services Advisors, Inc. (0001462284) | 10,078 | 2.6 M |
| BB&T Securities, LLC (0001383161) | 2,280 | 593,288 |
| Raymond James (0001084208) | 1,125 | 292,741 |
| Williams Jones & Associates LLC (0000949743) | 834 | 217,018 |
| Citigroup Inc. (0000831001) | 681 | 177,206 |
| Total | 4,262,043 |
6.3 Major Decreases in Top 40 institutional shareholders June 30, 2019 vs March 31, 2019
Morgan Stanley reduced their shareholding in SPDR Dow Jones Industrial Average ETF by 377,418 units worth USD 98.2 million. JP Morgan Chase & Co reduced their shareholding by 198,376 units worth USD 51.6 million.
| Institution (CIK) | Decrease in ETFs | Change, $USD |
| Morgan Stanley (0000895421) | 377,418 | (98.2 M) |
| JP Morgan Chase & Co (0000019617) | 198,376 | (51.6 M) |
| Manufacturers Life Insurance Company (0000928047) | 93,869 | (24.4 M) |
| Cambridge Investment Research Advisors, Inc. (0001419186) | 56,889 | (14.8 M) |
| Ameriprise Financial Inc. (0000820027) | 36,619 | (9.5 M) |
| PNC Financial Services Group, Inc. (0000713676) | 8,999 | (2.3 M) |
| First Republic Investment Management, Inc. (0001418204) | 8,035 | (2.1 M) |
| The Financial Advisory Group (0001539338) | 5,273 | (1.4 M) |
| Hightower Advisors, LLC (0001462245) | 3,160 | (822,276) |
| Arkansas Financial Group, Inc. (0000764611) | 296 | (77,023) |
| Total | 788,934 |
6.4 New Entrants in Top 40 institutional shareholders as at June 30, 2019
| Institution (CIK) | ETFs | Value, $USD |
| Two Sigma Investments LLC (0001179392) | 505,685 | 133.5 M |
| Sumitomo Mitsui Financial Group, Inc. (0001022837) | 340,000 | 89.8 M |
| Deutsche Bank AG (0000948046) | 196,685 | 51.9 M |
| Two Sigma Advisers, LLC (0001478735) | 178,600 | 47.1 M |
| Credit Suisse AG (0000824468) | 162,881 | 43 M |
| Advisor Group, Inc. (0001681115) | 146,970 | 38.8 M |
| Private Advisor Group, LLC (0001567755) | 117,521 | 31 M |
| Long Pond Capital, LP (0001499066) | 116,390 | 30.7 M |
| Total | 1,764,732 |
6.5 Drop Outs from Top 40 institutional shareholders as at June 30, 2019
| Institution (CIK) | ETFs | Value, $USD |
| Jane Street Group, LLC (0001595888) | 88,059 | 23.2 M |
| Berkshire Money Management, Inc. (0001535172) | 83,246 | 22 M |
| Stephens Inc., AR (0000757657) | 80,320 | 21.2 M |
| Wolverine Trading, LLC (0000927337) | 4,000 | 1.1 M |
| Ellis Investment Partners, LLC (0001765590) | 672 | 177,404 |
| Total | 256,297 |
SECTION 7
PROFILE
7.1 Description
SPDR Dow Jones Industrial Average ETF Trust is an investment trust incorporated in the USA. The Trust consists of a portfolio representing all 30 stocks in the Dow Jones Industrial Average. The Trust entitles its holders to proportional monthly cash payments representing dividends paid by the underlying stocks. The Initial Index ratio upon inception was 1/100 of INDU.
7.2 SNAPSHOT
SPDR Dow Jones Industrial Average ETF Trust (NYSE:DIA)
ISIN: US2527871063
| Inception Date | January 14, 1998 |
| Expense Ratio | 0.2% of average net assets |
| Category | Blend - Large Cap |
| Fund Family Name | State Street SPDR |
| Index Tracked | Dow Jones Industrial Average |
| Asset Class | Equity |
7.3 Contact details
| Website | https://www.spdrs.com/product/fund.seam?ticker=DIA |
| Physical Address | Amex ETF Services 86 Trinity Place New York, NY 10006 UNITED STATES |
| Phone | (212) 306-1844 |
7.4 ETF Summary
| Last | $US270.60 |
| Volume | 1,240,272 |
| Volume Index (1 is avg) | 0.4 |
| Market Cap | $US21.7 billion |
| Day's Range | 269.71 - 271.15 |
| 52-Week Range | 213.34 - 272.79 |
| Units Outstanding | 80,043,000 |
| Relative Strength (3 mo) | 36 |
7.5 Management Fees
+ The management fee is 0.18% of total assets
SECTION 8
DIVIDEND
| Dividend: | 0.6 |
| Dividend Date: | September 20, 2019 |
| Dividend Yield: | 2.2% |
| Annual Dividend: | $US5.77 |
SECTION 9
TOP HOLDINGS & PORTFOLIO ALLOCATION
9.1 Top Holdings (July 31, 2019)
| Holdings | Weight (%) |
| Boeing Co | 8.7 |
| UnitedHealth Group Inc | 6.4 |
| Goldman Sachs Group Inc | 5.5 |
| Home Depot Inc | 5.4 |
| Mcdonald's Corp | 5.3 |
| Apple Inc | 5.2 |
| Visa Inc | 4.5 |
| 3M Co | 4.4 |
| International Business Machines Corp | 3.7 |
| Travelers Companies Inc | 3.7 |
9.2 Sector Breakdown (May 31, 2019)
| Sector | % |
| Information Technology | 18.6 |
| Financials | 15 |
| Health Care | 13.5 |
| Consumer Discretionary | 12.7 |
| Consumer Staples | 8.3 |
| Communication Services | 5.1 |
| Energy | 5 |
| Materials | 1.3 |
9.3 Market Cap Breakdown (June 03, 2019)
| Market Cap | % |
| Large | 99.8 |
| Other | 0.2 |
DIA.P
CIK: 1041130
CUSIP: 78467X109
Source: www.BuySellSignals.com