What are SPDRs and MidCap SPDRs?
With Standard & Poor s Depositary Receipts (SPDRs) and Standard & Poor s MidCap 400 Depositary Receipts (MidCap SPDRs), investors can purchase shares in a diversified portfolio, receive quarterly cash dividends and buy or sell those shares at any time during the trading day. SPDRs and MidCap SPDRs represent units of beneficial interest in unit investment trusts that hold the component stocks of the Standard & Poor s 500 Index and the Standard & Poor s MidCap 400 Index, respectively. SPDRs and MidCap SPDRs trade like shares of common stock and can be traded at any time during the trading day on the American Stock Exchange. SPDRs trade under the ticker symbol “SPY” and MidCap SPDRs trade under the symbol “MDY” and are designed to provide investment results that generally correspond to the performance and dividend yield of each of the underlying indexes.
