SPDR S&P 400 Mid Cap Value ETF (NYSEARCA:MDYV) Sets New 12-Month High – Time to Buy?

SPDR S&P 400 Mid Cap Value ETF (NYSEARCA:MDYV)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $87.55 and last traded at $87.5650, with a volume of 22024 shares trading hands. The stock had previously closed at $86.79.

SPDR S&P 400 Mid Cap Value ETF Trading Up 1.4%

The company has a 50-day moving average price of $84.36 and a two-hundred day moving average price of $83.05. The stock has a market cap of $2.56 billion, a P/E ratio of 15.85 and a beta of 1.05.

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

Several hedge funds and other institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC boosted its stake in shares of SPDR S&P 400 Mid Cap Value ETF by 38.4% during the 1st quarter. AQR Capital Management LLC now owns 3,563 shares of the company’s stock worth $275,000 after purchasing an additional 988 shares during the period. NewEdge Advisors LLC lifted its stake in SPDR S&P 400 Mid Cap Value ETF by 3.6% in the first quarter. NewEdge Advisors LLC now owns 6,395 shares of the company’s stock worth $493,000 after purchasing an additional 221 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in SPDR S&P 400 Mid Cap Value ETF by 7.6% in the first quarter. Goldman Sachs Group Inc. now owns 261,025 shares of the company’s stock worth $20,112,000 after purchasing an additional 18,506 shares during the last quarter. Fortis Capital Advisors LLC purchased a new position in shares of SPDR S&P 400 Mid Cap Value ETF during the first quarter valued at approximately $541,000. Finally, Belpointe Asset Management LLC bought a new position in shares of SPDR S&P 400 Mid Cap Value ETF during the first quarter valued at approximately $541,000.

About SPDR S&P 400 Mid Cap Value ETF

SPDR S&P 400 Mid Cap Value ETF seeks to closely match the returns and characteristics of the S&P Mid Cap 400 Value Index. The S&P MidCap 400 Value Index measures the performance of the mid-capitalization value sector in the United States equity market. The Index consists of those stocks in the S&P MidCap 400 Index exhibiting the strongest value characteristics based on book value to price ratio; earnings to price ratio, and sales to price ratio. 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 CapitalMarket with market capitalizations between $850 million and $3.8 billion.