SPDR S&P 400 Mid Cap Growth ETF (NYSEARCA:MDYG) Sets New 52-Week High – Time to Buy?

SPDR S&P 400 Mid Cap Growth ETF (NYSEARCA:MDYG)’s share price hit a new 52-week high during trading on Friday . The stock traded as high as $99.98 and last traded at $99.6590, with a volume of 53717 shares trading hands. The stock had previously closed at $96.36.

SPDR S&P 400 Mid Cap Growth ETF Price Performance

The business has a 50 day moving average of $95.45 and a 200 day moving average of $92.40. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of 22.35 and a beta of 1.08.

Hedge Funds Weigh In On SPDR S&P 400 Mid Cap Growth ETF

Several institutional investors have recently modified their holdings of MDYG. Freedom Investment Management Inc. boosted its stake in SPDR S&P 400 Mid Cap Growth ETF by 2.6% in the fourth quarter. Freedom Investment Management Inc. now owns 5,785 shares of the company’s stock worth $535,000 after buying an additional 145 shares in the last quarter. Daviman Financial LLC bought a new stake in shares of SPDR S&P 400 Mid Cap Growth ETF in the 4th quarter worth approximately $241,000. Keudell Morrison Wealth Management purchased a new stake in shares of SPDR S&P 400 Mid Cap Growth ETF in the 4th quarter valued at $293,000. Mach 1 Financial Group LLC bought a new position in shares of SPDR S&P 400 Mid Cap Growth ETF during the 4th quarter valued at $1,902,000. Finally, Shakespeare Wealth Management LLC raised its position in SPDR S&P 400 Mid Cap Growth ETF by 1.7% in the 4th quarter. Shakespeare Wealth Management LLC now owns 211,441 shares of the company’s stock worth $19,544,000 after purchasing an additional 3,590 shares during the period.

SPDR S&P 400 Mid Cap Growth ETF Company Profile

SPDR S&P 400 Mid Cap Growth ETF, before expenses, seeks to closely match the returns and characteristics of the S&P Mid Cap 400 Growth Index. The S&P MidCap 400 Growth Index measures the performance of the mid-capitalization growth sector in the United States equity market. The Index consists of those stocks in the S&P MidCap 400 Index exhibiting the strongest growth characteristics based on: sales growth; earnings change to price, and momentum. The selection universe for the S&P MidCap 400 Index includes all the United States common equities listed on the New York Stock Exchange, National Association of Securities Dealers Automated Quotation (NASDAQ) Global Select Market, NASDAQ Select Market and NASDAQ Capital Market with market capitalizations between $850 million and $3.8 billion.