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

SPDR S&P 400 Mid Cap Growth ETF (NYSEARCA:MDYG)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $107.89 and last traded at $107.12, with a volume of 10626 shares trading hands. The stock had previously closed at $105.43.

SPDR S&P 400 Mid Cap Growth ETF Stock Up 2.0%

The business’s 50 day moving average is $99.76 and its 200-day moving average is $96.31. The firm has a market capitalization of $2.79 billion, a P/E ratio of 22.35 and a beta of 1.06.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MDYG. Caitlin John LLC acquired a new stake in SPDR S&P 400 Mid Cap Growth ETF in the third quarter valued at approximately $28,000. Hantz Financial Services Inc. lifted its holdings in SPDR S&P 400 Mid Cap Growth ETF by 760.5% in the third quarter. Hantz Financial Services Inc. now owns 327 shares of the company’s stock valued at $30,000 after buying an additional 289 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in SPDR S&P 400 Mid Cap Growth ETF in the fourth quarter valued at $30,000. KERR FINANCIAL PLANNING Corp lifted its holdings in SPDR S&P 400 Mid Cap Growth ETF by 50.0% in the first quarter. KERR FINANCIAL PLANNING Corp now owns 342 shares of the company’s stock valued at $34,000 after buying an additional 114 shares during the period. Finally, Arax Advisory Partners acquired a new position in SPDR S&P 400 Mid Cap Growth ETF in the fourth quarter valued at $51,000.

About SPDR S&P 400 Mid Cap Growth ETF

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.