SPDR S&P MidCap 400 ETF Trust (NYSEARCA:MDY) Reaches New 52-Week High – Should You Buy?

SPDR S&P MidCap 400 ETF Trust (NYSEARCA:MDY)’s share price hit a new 52-week high during trading on Friday . The stock traded as high as $609.92 and last traded at $609.92, with a volume of 411073 shares trading hands. The stock had previously closed at $600.66.

SPDR S&P MidCap 400 ETF Trust Trading Up 1.7 %

The company has a market cap of $24.14 billion, a price-to-earnings ratio of 15.70 and a beta of 1.09. The stock has a 50 day moving average price of $577.41 and a two-hundred day moving average price of $556.29.

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

Hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC raised its position in shares of SPDR S&P MidCap 400 ETF Trust by 62,301.7% in the 3rd quarter. International Assets Investment Management LLC now owns 2,172,826 shares of the exchange traded fund’s stock valued at $1,237,772,000 after acquiring an additional 2,169,344 shares during the period. Granite Bay Wealth Management LLC raised its holdings in SPDR S&P MidCap 400 ETF Trust by 6,346.6% in the second quarter. Granite Bay Wealth Management LLC now owns 2,113,449 shares of the exchange traded fund’s stock worth $1,136,513,000 after purchasing an additional 2,080,665 shares during the period. US Bancorp DE boosted its position in shares of SPDR S&P MidCap 400 ETF Trust by 1.1% during the third quarter. US Bancorp DE now owns 1,063,964 shares of the exchange traded fund’s stock worth $606,098,000 after purchasing an additional 11,719 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of SPDR S&P MidCap 400 ETF Trust by 0.8% during the third quarter. PNC Financial Services Group Inc. now owns 768,842 shares of the exchange traded fund’s stock worth $437,979,000 after purchasing an additional 5,825 shares in the last quarter. Finally, Bank of Montreal Can grew its holdings in shares of SPDR S&P MidCap 400 ETF Trust by 3.5% in the 2nd quarter. Bank of Montreal Can now owns 504,716 shares of the exchange traded fund’s stock valued at $269,741,000 after buying an additional 17,125 shares during the period.

About SPDR S&P MidCap 400 ETF Trust

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.