SPDR S&P 400 Mid CapGrowth ETF (NYSEARCA:MDYG) Sees Large Volume Increase – Time to Buy?

SPDR S&P 400 Mid CapGrowth ETF (NYSEARCA:MDYG) saw unusually-high trading volume on Tuesday . Approximately 91,090 shares traded hands during trading, a decline of 21% from the previous session’s volume of 115,193 shares.The stock last traded at $88.26 and had previously closed at $87.03.

SPDR S&P 400 Mid CapGrowth ETF Price Performance

The firm has a market capitalization of $3.19 billion, a PE ratio of 18.50 and a beta of 1.09. The company’s fifty day simple moving average is $90.49 and its 200-day simple moving average is $87.68.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MDYG. Citigroup Inc. lifted its stake in shares of SPDR S&P 400 Mid CapGrowth ETF by 1.4% in the third quarter. Citigroup Inc. now owns 2,437,057 shares of the company’s stock worth $213,827,000 after buying an additional 34,717 shares in the last quarter. LPL Financial LLC lifted its stake in shares of SPDR S&P 400 Mid CapGrowth ETF by 2.9% in the third quarter. LPL Financial LLC now owns 1,734,389 shares of the company’s stock worth $152,175,000 after buying an additional 49,227 shares in the last quarter. Stifel Financial Corp lifted its stake in shares of SPDR S&P 400 Mid CapGrowth ETF by 146.2% in the third quarter. Stifel Financial Corp now owns 1,197,620 shares of the company’s stock worth $105,079,000 after buying an additional 711,253 shares in the last quarter. Benjamin Edwards Inc. lifted its stake in shares of SPDR S&P 400 Mid CapGrowth ETF by 6,605.5% in the third quarter. Benjamin Edwards Inc. now owns 992,944 shares of the company’s stock worth $87,122,000 after buying an additional 978,136 shares in the last quarter. Finally, Parcion Private Wealth LLC increased its position in SPDR S&P 400 Mid CapGrowth ETF by 30.8% during the third quarter. Parcion Private Wealth LLC now owns 825,383 shares of the company’s stock worth $72,419,000 after purchasing an additional 194,413 shares during the last quarter.

About SPDR S&P 400 Mid CapGrowth 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.