SPDR S&P 400 Mid Cap Growth ETF (NYSEARCA:MDYG) Sets New 1-Year High – Still a Buy?

Shares of SPDR S&P 400 Mid Cap Growth ETF (NYSEARCA:MDYG) hit a new 52-week high during trading on Wednesday . The company traded as high as $112.17 and last traded at $112.09, with a volume of 131113 shares traded. The stock had previously closed at $110.66.

SPDR S&P 400 Mid Cap Growth ETF Price Performance

The stock’s 50-day moving average price is $107.70 and its 200 day moving average price is $101.30. The firm has a market capitalization of $2.87 billion, a PE ratio of 22.35 and a beta of 1.05.

Institutional Investors Weigh In On SPDR S&P 400 Mid Cap Growth ETF

Several hedge funds have recently made changes to their positions in MDYG. Royal Bank of Canada increased its stake in shares of SPDR S&P 400 Mid Cap Growth ETF by 1.3% during the first quarter. Royal Bank of Canada now owns 81,888 shares of the company’s stock valued at $6,507,000 after buying an additional 1,090 shares during the period. Integrated Wealth Concepts LLC lifted its stake in SPDR S&P 400 Mid Cap Growth ETF by 35.4% in the first quarter. Integrated Wealth Concepts LLC now owns 4,032 shares of the company’s stock worth $320,000 after acquiring an additional 1,054 shares during the period. NewEdge Advisors LLC grew its holdings in SPDR S&P 400 Mid Cap Growth ETF by 7.0% during the 1st quarter. NewEdge Advisors LLC now owns 5,127 shares of the company’s stock worth $407,000 after acquiring an additional 336 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in SPDR S&P 400 Mid Cap Growth ETF by 6.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 46,302 shares of the company’s stock worth $3,679,000 after acquiring an additional 2,922 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in SPDR S&P 400 Mid Cap Growth ETF during the 1st quarter worth about $371,000.

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.