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Asset Summary

Daily Performance Report for SPY ETF: Nov 6, 2024

Summary: The day started with SPY ETF opening at $576.97 and closing at $590.84. The ETF showed resilience throughout the day, with the highest price observed at $591.93 and the lowest at $576.94. The underlying asset had a trading range of $14.99 Overall, it was a positive trading day for SPY ETF, reflecting investor optimism and market activity.

Change in Closing Price: There was a net increase of $13.87 or 2.40% in the closing price from the opening to the closing price over the day.

Volume Analysis: Trading volume for SPY ETF was 68,538,021 units during Nov 6, 2024, indicating active market participation and investor interest.

Opening Price: The day started at $576.97.

Highest Price: The highest price observed during the day was $591.93.

Lowest Price: The lowest price observed during the day was $576.94.

Closing Price: The day ended at $590.84.

Asset Performance Metrics and Risk Characteristics:

Understanding asset performance is crucial for evaluating investment quality and making informed decisions. Metrics like trailing return and drawdown provide insights into how an asset has performed over time, its volatility, and the efficiency of its returns relative to risk. Performance indicators help assess the stability, risk, and reward of an investment, allowing investors and portfolio managers to make comparisons and strategize accordingly.

Asset Technical Analysis

Technical analysis involves evaluating an asset's price and volume data to forecast future movements and make informed trading decisions. By using various technical indicators and chart patterns, investors can gain insights into market trends, price momentum, and potential turning points. This section delves into essential technical metrics, including moving averages, pivot points, and other indicators that provide a snapshot of an asset's current technical stance. Analyzing these indicators helps investors identify entry and exit points, assess market sentiment, and refine their trading strategies. Explore the following technical analysis data to understand the asset's performance dynamics and make better-informed decisions.

Moving Averages

Moving Averages are commonly used to smooth out price data and identify trends over a specific period. Here’s a summary of the latest moving averages for various periods:

  • SMA (Simple Moving Average): Reflects the average price over a specific number of periods.
  • EMA (Exponential Moving Average): Gives more weight to recent prices, making it more responsive to new information.
  • WMA (Weighted Moving Average): Assigns a weight to each price, emphasizing more recent prices.
  • WEMA (Weighted Exponential Moving Average): Combines elements of both WMA and EMA for a more responsive moving average.

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Frequently Asked Questions

As of the latest update, SPY has an expense ratio of approximately 0.09%. This fee is deducted from the fund’s assets and covers the cost of managing the ETF.

Yes, SPY can be held in retirement accounts such as IRAs or 401(k)s. It is a good choice for investors looking for broad exposure to the U.S. stock market through a well-established index.

Yes, investing in SPY carries risks such as market risk and sector risk. As a diversified ETF tracking the S&P 500, it is subject to market fluctuations and economic conditions affecting the large-cap stocks within the index.

Key performance metrics for SPY include its net asset value (NAV), expense ratio, total return, and tracking error. NAV indicates the per-share value of the ETF, the expense ratio represents the cost of managing the fund, total return measures overall performance including dividends, and tracking error shows how closely SPY follows the S&P 500 Index.

SPY typically distributes dividends on a quarterly basis. These dividends are paid out from the income generated by the underlying stocks in the ETF’s portfolio.

SPY includes companies that are part of the S&P 500 Index, covering a broad range of sectors including technology, healthcare, financials, and consumer discretionary. Major holdings often include large, well-established companies such as Apple, Microsoft, and Amazon.

Historically, SPY has demonstrated strong performance reflective of the S&P 500 Index. Long-term performance generally aligns with the index's returns, though investors should review historical data and performance trends.

Dividends received from the underlying stocks in SPY are collected and distributed to ETF shareholders. Investors can choose to receive dividends in cash or reinvest them to purchase additional shares of SPY.

Investors can purchase shares of SPY through a brokerage account, just like other stocks and ETFs. It is traded on the New York Stock Exchange (NYSE) under the ticker symbol "SPY."

SPY is managed by State Street Global Advisors. The fund is designed to track the S&P 500 Index by holding the same stocks in the same proportions as the index. Management involves periodic rebalancing to ensure the ETF remains aligned with the index.

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