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The SPDR Trust Series I (AMEX: SPY) is an exchange traded fund (ETF) that tracks the performance of the S&P 500 index. The fund is managed by the State Street Global Advisors and is traded on the American Stock Exchange. Shares in the fund can be bought through any licensed Series 6 stock broker. Each unit (share) of the fund is priced to reflect 1/10 of the value of the S&P 500 index. The shares trade continuously on the market. They pay the aggregate dividend of the companies in the S&P 500 index. The acronym SPDR stands for Standard and Poor's Depository Receipt. [edit] S&P 500 IndexThe Standard and Poors 500 Index is considered representative of the overall U.S. stock market. It consists of 500 companies in 26 sectors to cover the bulk of American business. The value of each company in the index is proportional to its relative market capitalization. [edit] Investment value of SPY shares
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The Shelf
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