How To Buy SPDR S&P 500 ETF Trust (SPY) Stock
How To Buy SPY
SPDR S&P 500 ETF Trust (SPY) is an ETF listed on the NYSE ARCA exchange, which means you can buy the stock from most online brokers. Follow the steps below to learn how to purchase shares of SPY.
Find a reliable broker.
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Fund your new account.
You'll need to transfer money into your new brokerage account before you can buy the stock. Transferring via a bank transfer is recommended and the most common way to fund an account. Some brokers might allow funding via a debit or credit card.
Search for SPY.
When your funds are settled into your account, look for SPDR S&P 500 ETF Trust on your broker by searching for the company name: SPDR S&P 500 ETF Trust or the ticker symbol: SPY.
Buy the stock.
Once that you've found SPDR S&P 500 ETF Trust on your broker, submit a purchase order to buy shares of the stock (currently $459.10 a share). Depending on when you purchase, the stock might be higher or lower than the price listed. You may also be able to purchase fractional shares depending on your broker.
Once your order gets fulfilled, you've purchased your first shares of SPDR S&P 500 ETF Trust.
Tips When Buying
When submitting your order, you may choose to buy shares of SPDR S&P 500 ETF Trust at the market price with a market order or at a set price using a limit order.
- Market order: Buys the stock immediately at its current price.
- Limit order: Buys the stock only once it reaches your target price.
By default all purchases are considered market orders unless specified otherwise. Limit orders are great for when you only want to buy shares of SPY at a specific price.
Should You Buy SPY Stock Now?
In the past week the price per share of SPDR S&P 500 ETF Trust has gone up ↑4.62 (1.02%) and the daily volume has increased significantly. You should buy SPY now if you think the stock will continue going up in price.
In the end, you should be comfortable with the risk of the investment and only buy shares of SPY when you feel the time is right.