SPDR S&P 400 Mid Cap Growth ETF (NYSEARCA:MDYG) Hits New 52-Week High – Should You Buy?

SPDR S&P 400 Mid Cap Growth ETF (NYSEARCA:MDYG) shares reached a new 52-week high on Wednesday . The stock traded as high as $101.44 and last traded at $101.16, with a volume of 12047 shares changing hands. The stock had previously closed at $100.01.

SPDR S&P 400 Mid Cap Growth ETF Stock Up 1.0%

The firm has a market cap of $2.62 billion, a P/E ratio of 22.35 and a beta of 1.08. The firm’s 50-day simple moving average is $96.45 and its 200 day simple moving average is $92.93.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MDYG. AQR Capital Management LLC lifted its position in shares of SPDR S&P 400 Mid Cap Growth ETF by 363.3% during the fourth quarter. AQR Capital Management LLC now owns 23,235 shares of the company’s stock worth $2,148,000 after acquiring an additional 18,220 shares in the last quarter. Cetera Investment Advisers grew its position in shares of SPDR S&P 400 Mid Cap Growth ETF by 5.3% in the fourth quarter. Cetera Investment Advisers now owns 113,379 shares of the company’s stock valued at $10,480,000 after purchasing an additional 5,753 shares in the last quarter. Equitable Holdings Inc. raised its stake in shares of SPDR S&P 400 Mid Cap Growth ETF by 4.7% during the 4th quarter. Equitable Holdings Inc. now owns 43,880 shares of the company’s stock valued at $4,056,000 after purchasing an additional 1,981 shares during the period. Private Advisor Group LLC lifted its holdings in SPDR S&P 400 Mid Cap Growth ETF by 15.3% during the 4th quarter. Private Advisor Group LLC now owns 302,597 shares of the company’s stock worth $27,969,000 after purchasing an additional 40,265 shares in the last quarter. Finally, &PARTNERS lifted its holdings in SPDR S&P 400 Mid Cap Growth ETF by 191.5% during the 4th quarter. &PARTNERS now owns 16,138 shares of the company’s stock worth $1,492,000 after purchasing an additional 10,602 shares in the last quarter.

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.