State Street’s SPDR Morgan Stanley Technology ETF MTK announced that it had received a $108,328 payment from a class action settlement related to Juniper Networks, Inc. The SPDR has slightly more than 2.7 million shares outstanding, meaning that the payment will translate into just over 4 cents of gain per share.
Standard & Poor Depositary Receipts, also known as "spiders", are exchange traded funds designed to track the S&P 500 Index and other indexes, like the Morgan Stanley Technology Index (MSH), which are managed by State Street Global Advisors. Publicly traded, they can be tied to a variety of underlying assets, including stocks, bonds or commodities. State Street manages over $274 billion in over 100 ETFs.