SPDR S&P 400 Mid Cap Growth ETF (NYSEARCA:MDYG) Sees Strong Trading Volume – Still a Buy?

SPDR S&P 400 Mid Cap Growth ETF (NYSEARCA:MDYG) shares saw strong trading volume on Wednesday . 1,572,495 shares changed hands during mid-day trading, an increase of 637% from the previous session’s volume of 213,330 shares.The stock last traded at $75.67 and had previously closed at $76.23.

SPDR S&P 400 Mid Cap Growth ETF Price Performance

The company has a market cap of $2.30 billion, a price-to-earnings ratio of 19.37 and a beta of 1.09. The firm’s 50-day moving average price is $81.61 and its 200-day moving average price is $86.96.

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

Large investors have recently modified their holdings of the stock. Goldstone Financial Group LLC lifted its position in shares of SPDR S&P 400 Mid Cap Growth ETF by 3.8% during the first quarter. Goldstone Financial Group LLC now owns 73,633 shares of the company’s stock worth $5,851,000 after purchasing an additional 2,723 shares in the last quarter. GEN Financial Management INC. acquired a new stake in shares of SPDR S&P 400 Mid Cap Growth ETF during the first quarter valued at about $291,000. Michael S. Ryan Inc. increased its position in shares of SPDR S&P 400 Mid Cap Growth ETF by 28.7% during the first quarter. Michael S. Ryan Inc. now owns 48,469 shares of the company’s stock worth $3,851,000 after acquiring an additional 10,821 shares during the last quarter. Tounjian Advisory Partners LLC acquired a new position in shares of SPDR S&P 400 Mid Cap Growth ETF in the first quarter worth about $709,000. Finally, Farther Finance Advisors LLC boosted its holdings in SPDR S&P 400 Mid Cap Growth ETF by 2,232.5% in the first quarter. Farther Finance Advisors LLC now owns 15,861 shares of the company’s stock valued at $1,269,000 after purchasing an additional 15,181 shares during 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.