SPDR Portfolio S&P 400 Mid Cap ETF (NYSEARCA:SPMD) Sets New 12-Month High – Should You Buy?

SPDR Portfolio S&P 400 Mid Cap ETF (NYSEARCA:SPMD) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $64.14 and last traded at $64.14, with a volume of 365814 shares traded. The stock had previously closed at $62.67.

SPDR Portfolio S&P 400 Mid Cap ETF Trading Up 2.0%

The firm has a market cap of $16.92 billion, a price-to-earnings ratio of 4.49 and a beta of 1.04. The company’s 50-day moving average is $61.06 and its 200-day moving average is $59.29.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AdvisorNet Financial Inc lifted its stake in SPDR Portfolio S&P 400 Mid Cap ETF by 0.7% in the 1st quarter. AdvisorNet Financial Inc now owns 50,394 shares of the company’s stock valued at $2,984,000 after purchasing an additional 340 shares during the last quarter. Rainier Family Wealth Inc. lifted its stake in SPDR Portfolio S&P 400 Mid Cap ETF by 2.6% in the 1st quarter. Rainier Family Wealth Inc. now owns 31,219 shares of the company’s stock valued at $1,849,000 after purchasing an additional 782 shares during the last quarter. Stewardship Advisors LLC lifted its stake in SPDR Portfolio S&P 400 Mid Cap ETF by 3.4% in the 1st quarter. Stewardship Advisors LLC now owns 198,510 shares of the company’s stock valued at $11,756,000 after purchasing an additional 6,492 shares during the last quarter. Park National Corp OH bought a new position in SPDR Portfolio S&P 400 Mid Cap ETF in the 1st quarter valued at approximately $50,000. Finally, Paladin Wealth LLC lifted its stake in SPDR Portfolio S&P 400 Mid Cap ETF by 15.7% in the 1st quarter. Paladin Wealth LLC now owns 5,189 shares of the company’s stock valued at $307,000 after purchasing an additional 705 shares during the last quarter. Institutional investors own 61.70% of the company’s stock.

About SPDR Portfolio S&P 400 Mid Cap ETF

The SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) is an exchange-traded fund that is based on the S&P Mid Cap 400 index. The fund tracks a market cap-weighted index of mid-cap US companies selected by the S&P Committee. SPMD was launched on Nov 8, 2005 and is managed by State Street.