SPDR Portfolio S&P 400 Mid Cap ETF (NYSEARCA:SPMD) Sets New 52-Week High – Time to Buy?

SPDR Portfolio S&P 400 Mid Cap ETF (NYSEARCA:SPMD)’s share price hit a new 52-week high during trading on Friday . The company traded as high as $66.65 and last traded at $66.30, with a volume of 231659 shares traded. The stock had previously closed at $66.20.

SPDR Portfolio S&P 400 Mid Cap ETF Trading Up 0.8%

The company has a market cap of $17.80 billion, a price-to-earnings ratio of 4.69 and a beta of 1.01. The company’s 50 day moving average price is $63.71 and its 200 day moving average price is $61.38.

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

A number of hedge funds have recently added to or reduced their stakes in SPMD. CarsonAllaria Wealth Management Ltd. grew its stake in shares of SPDR Portfolio S&P 400 Mid Cap ETF by 11.6% during the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 96,472 shares of the company’s stock worth $5,587,000 after purchasing an additional 10,034 shares during the period. Cahaba Wealth Management Inc. increased its holdings in SPDR Portfolio S&P 400 Mid Cap ETF by 3.3% in the fourth quarter. Cahaba Wealth Management Inc. now owns 451,746 shares of the company’s stock valued at $26,161,000 after buying an additional 14,242 shares in the last quarter. Breakwater Capital Group lifted its position in shares of SPDR Portfolio S&P 400 Mid Cap ETF by 206.6% during the 4th quarter. Breakwater Capital Group now owns 40,779 shares of the company’s stock valued at $2,361,000 after acquiring an additional 27,478 shares during the period. Davis R M Inc. purchased a new stake in shares of SPDR Portfolio S&P 400 Mid Cap ETF during the 3rd quarter worth approximately $621,000. Finally, Concurrent Investment Advisors LLC purchased a new stake in shares of SPDR Portfolio S&P 400 Mid Cap ETF during the 4th quarter worth approximately $2,116,000. Institutional investors and hedge funds 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.