SPDR S&P MidCap 400 ETF Trust (NYSEARCA:MDY) Sets New 12-Month High – Should You Buy?

Shares of SPDR S&P MidCap 400 ETF Trust (NYSEARCA:MDY) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $623.77 and last traded at $623.8540, with a volume of 575684 shares changing hands. The stock had previously closed at $619.36.

SPDR S&P MidCap 400 ETF Trust Stock Up 0.4%

The company’s 50 day moving average is $602.47 and its 200-day moving average is $592.63. The firm has a market capitalization of $25.15 billion, a P/E ratio of 18.98 and a beta of 1.06.

Hedge Funds Weigh In On SPDR S&P MidCap 400 ETF Trust

Hedge funds have recently modified their holdings of the company. Kingstone Capital Partners Texas LLC purchased a new position in SPDR S&P MidCap 400 ETF Trust in the second quarter valued at approximately $1,584,523,000. Northwestern Mutual Wealth Management Co. lifted its position in SPDR S&P MidCap 400 ETF Trust by 28.6% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 788,274 shares of the exchange traded fund’s stock valued at $469,835,000 after purchasing an additional 175,255 shares during the last quarter. Moore Capital Management LP grew its position in SPDR S&P MidCap 400 ETF Trust by 73.2% in the second quarter. Moore Capital Management LP now owns 633,725 shares of the exchange traded fund’s stock worth $358,993,000 after acquiring an additional 267,800 shares in the last quarter. Tableaux LLC purchased a new position in shares of SPDR S&P MidCap 400 ETF Trust in the 2nd quarter worth about $317,795,000. Finally, Raymond James Financial Inc. grew its position in SPDR S&P MidCap 400 ETF Trust by 0.6% during the third quarter. Raymond James Financial Inc. now owns 529,533 shares of the exchange traded fund’s stock valued at $315,618,000 after acquiring an additional 2,995 shares during the last quarter.

SPDR S&P MidCap 400 ETF Trust Company Profile

SPDR S&P MidCap 400 ETF is an exchange traded fund. SPDR MidCap 400 Trust focuses to correspond to the price and yield performance of the S&P MidCap 400 Index. The S&P MidCap 400 covers over 7% of the United States equities market, and is part of a series of S&P the United States indices. The index also includes companies, which should have four consecutive quarters of positive as-reported earnings, excluding discontinued operations and extraordinary items. Its investment sectors include financials, industrials, information technology, consumer discretionary, healthcare and materials.