SPDR S&P 400 Mid CapGrowth ETF (NYSEARCA:MDYG) Sees Large Volume Increase – Should You Buy?

Shares of SPDR S&P 400 Mid CapGrowth ETF (NYSEARCA:MDYG) saw an uptick in trading volume on Monday . 299,423 shares changed hands during mid-day trading, an increase of 107% from the previous session’s volume of 144,867 shares.The stock last traded at $89.89 and had previously closed at $89.76.

SPDR S&P 400 Mid CapGrowth ETF Stock Performance

The stock has a market cap of $3.13 billion, a P/E ratio of 18.50 and a beta of 1.09. The company’s 50 day moving average price is $89.74 and its 200-day moving average price is $88.37.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MDYG. Legacy Investment Solutions LLC bought a new stake in shares of SPDR S&P 400 Mid CapGrowth ETF during the 3rd quarter valued at $25,000. Centricity Wealth Management LLC bought a new position in SPDR S&P 400 Mid CapGrowth ETF during the fourth quarter valued at approximately $26,000. Darwin Wealth Management LLC bought a new stake in shares of SPDR S&P 400 Mid CapGrowth ETF during the 3rd quarter valued at about $27,000. Cape Investment Advisory Inc. increased its stake in shares of SPDR S&P 400 Mid CapGrowth ETF by 198.1% in the 4th quarter. Cape Investment Advisory Inc. now owns 310 shares of the company’s stock worth $27,000 after purchasing an additional 206 shares in the last quarter. Finally, Sound Income Strategies LLC bought a new stake in SPDR S&P 400 Mid CapGrowth ETF during the 3rd quarter worth approximately $28,000.

About SPDR S&P 400 Mid CapGrowth 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.