State Street SPDR Portfolio S&P 500 ETF (SPYM) Stock News

State Street (STT) Investment Management launched SPYMX, an institutional mutual fund share class of its SPDR Portfolio S&P 500 ETF (SPYM).

SPYMX shares the ETF’s underlying portfolio and is available to eligible employer-sponsored and state-sponsored retirement plans, including 401(k) and 403(b) plans, and other eligible institutional investors. Eligible retirement plans have no investment minimum. SPYM has over $170 billion in assets under management. Mutual fund shares are purchased and redeemed at the fund’s next-determined net asset value, rather than the market-determined prices used for ETF shares.