Bank of Montreal Can Adds New Shares to Its Position in SPDR Portfolio Emerging Markets ETF

In a notable transaction within the investment world, the Bank of Montreal Can has expanded its investment portfolio by purchasing new shares of the SPDR Portfolio Emerging Markets ETF (NYSEARCA:SPEM). This move signifies a step by the Bank of Montreal to diversify its investment reach into emerging markets.

Details of the Transaction

The Bank of Montreal made this acquisition of SPEM shares during the second quarter, as reported in their recent 13F filing with the Securities & Exchange Commission. The total number of shares obtained stood at 8,172, and were worth an approximate value of $291,000, marking a strategic investment into the emerging market sector by the bank.

Institutional Investors' Activity

The Bank of Montreal is not alone in its endeavors to increase its holdings in the SPDR Portfolio Emerging Markets ETF. Other institutional investors have been actively adjusting their stakes too. For instance, Moneta Group Investment Advisors LLC dramatically increased its holdings by 87,882.7%, now owning a staggering 203,176,699 shares valued at about $6,696,704,000. Following this trend, firms such as LPL Financial LLC, Allworth Financial LP, and Ameriprise Financial Inc. have also made significant increases to their investments in SPEM. Another notable new investor is Portside Wealth Group LLC with a fresh entry totalling approximately $157,663,000.

The ETF's Market Performance

The SPDR Portfolio Emerging Markets ETF itself has seen a variety of fluctuations in the market. Its price at opening was $34.97 on a recent Tuesday. SPEM has seen a low of $32.06 and a peak of $36.44 over the past fifty-two weeks. With a market capitalization of $7.48 billion, a P/E ratio of 10.59, and a beta of 0.68, it maintains a balance between value and responsiveness to market changes. The ETF's 50-day moving average is $33.53 with a 200-day moving average sitting at $34.18.

Profile of SPDR Portfolio Emerging Markets ETF

The SPDR Portfolio Emerging Markets ETF aims to provide investors with exposure to an index that tracks a range of companies in emerging markets, with a focus on market cap weighting. The fund was established on March 19, 2007, and is managed by State Street.

BankOfMontreal, SPEM, Investment