What is a Spider (SPDR)?
How Does a Spider (SPDR) Work?
A SPDR is valued at one-tenth the S&P 500Stock Exchange at about 10% of the dollar value level of the S&P 500. Each SPDR represents a unit of ownership in a trust that holds a portfolio of stocks that track the performance and dividend yield of an index.and trades on the American
SPDRs trade like stocks, and like stocks, they can be shorted, purchased on margin, and pay regular dividends.