ProShares S&P SmallCap 600 Dividend Aristocrats ETF
SMDV
136 hedge funds and large institutions have $336M invested in ProShares S&P SmallCap 600 Dividend Aristocrats ETF in 2025 Q4 according to their latest regulatory filings, with 14 funds opening new positions, 44 increasing their positions, 53 reducing their positions, and 6 closing their positions.
133% more first-time investments, than exits
New positions opened: 14 | Existing positions closed: 6
5% more funds holding
Funds holding: 130 → 136 (+6)
0.76% more ownership
Funds ownership: 53.83% → 54.58% (+0.76%)
17% less repeat investments, than reductions
Existing positions increased: 44 | Existing positions reduced: 53
44% less capital inflows, than outflows
Capital inflows: $9.08M | Capital outflows: $16.1M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Raymond James Financial
St Petersburg,
Florida
|
+$1.63M |
| 2 |
Wealth Enhancement Advisory Services
Plymouth,
Minnesota
|
+$1.12M |
| 3 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
+$1M |
| 4 |
Goldman Sachs
New York
|
+$769K |
| 5 |
Fisher Asset Management
Camas,
Washington
|
+$585K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Cetera Investment Advisers
Schaumburg,
Illinois
|
-$3.99M |
| 2 |
Morgan Stanley
New York
|
-$2.34M |
| 3 |
Truist Financial
Charlotte,
North Carolina
|
-$1.83M |
| 4 |
Wells Fargo
San Francisco,
California
|
-$1.2M |
| 5 |
LPL Financial
San Diego,
California
|
-$1.04M |
SMDV Hedge Fund Activity: Q4 2025 in Review
136 of the 8,287 institutional investors tracked by Wall St. Rank reported a position in ProShares S&P SmallCap 600 Dividend Aristocrats ETF (SMDV) for Q4 2025, worth a combined $336M — down 3.2% from $347M a quarter earlier.
Buyers outnumbered sellers: 14 funds opened new SMDV positions and 6 closed out — a net gain of 8 holders — while 44 added to existing stakes and 53 trimmed.
The largest buyer was Raymond James Financial, adding an estimated $1.63M. The largest seller was Cetera Investment Advisers, cutting an estimated $3.99M.
- 136 institutional investors held ProShares S&P SmallCap 600 Dividend Aristocrats ETF (SMDV) as of Q4 2025, up from 130 in Q3 2025.
- Funds reported $336M of ProShares S&P SmallCap 600 Dividend Aristocrats ETF stock for Q4 2025, down 3.2% quarter-over-quarter.
- 14 funds opened new ProShares S&P SmallCap 600 Dividend Aristocrats ETF positions in Q4 2025 and 6 closed out, a net change of +8 holders.
- The largest ProShares S&P SmallCap 600 Dividend Aristocrats ETF buyer in Q4 2025 was Raymond James Financial, an estimated $1.63M added.
- The largest ProShares S&P SmallCap 600 Dividend Aristocrats ETF seller in Q4 2025 was Cetera Investment Advisers, an estimated $3.99M sold.
Based on aggregated 13F filings for Q4 2025.