SPDR Portfolio S&P 400 Mid Cap ETF (NYSEARCA:SPMD) Hits New 1-Year High – Should You Buy?

Shares of SPDR Portfolio S&P 400 Mid Cap ETF (NYSEARCA:SPMD) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $67.72 and last traded at $67.71, with a volume of 655441 shares trading hands. The stock had previously closed at $66.69.

SPDR Portfolio S&P 400 Mid Cap ETF Price Performance

The stock has a 50-day moving average of $66.26 and a 200-day moving average of $63.47. The firm has a market cap of $18.66 billion, a price-to-earnings ratio of 4.74 and a beta of 1.01.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SPMD. KWB Wealth raised its stake in SPDR Portfolio S&P 400 Mid Cap ETF by 14.0% in the second quarter. KWB Wealth now owns 139,488 shares of the company’s stock valued at $9,424,000 after purchasing an additional 17,132 shares in the last quarter. Spinnaker Investment Group LLC acquired a new stake in SPDR Portfolio S&P 400 Mid Cap ETF during the second quarter worth about $450,000. Wealthcare Advisory Partners LLC increased its holdings in SPDR Portfolio S&P 400 Mid Cap ETF by 4.1% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 1,230,591 shares of the company’s stock valued at $83,139,000 after buying an additional 48,386 shares during the period. Paladin Wealth LLC increased its holdings in SPDR Portfolio S&P 400 Mid Cap ETF by 40.3% in the 2nd quarter. Paladin Wealth LLC now owns 7,281 shares of the company’s stock valued at $492,000 after buying an additional 2,092 shares during the period. Finally, Wealthcare Capital Partners LLC raised its position in shares of SPDR Portfolio S&P 400 Mid Cap ETF by 0.7% in the 2nd quarter. Wealthcare Capital Partners LLC now owns 49,981 shares of the company’s stock valued at $3,377,000 after buying an additional 368 shares in the last quarter. Institutional investors own 61.70% of the company’s stock.

SPDR Portfolio S&P 400 Mid Cap ETF Company Profile

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.