SPDR S&P 400 Mid Cap Value ETF (NYSEARCA:MDYV) Reaches New 52-Week High – Still a Buy?

Shares of SPDR S&P 400 Mid Cap Value ETF (NYSEARCA:MDYV) reached a new 52-week high during trading on Wednesday . The company traded as high as $84.19 and last traded at $84.11, with a volume of 20979 shares trading hands. The stock had previously closed at $80.76.

SPDR S&P 400 Mid Cap Value ETF Stock Up 0.4 %

The firm has a market cap of $2.84 billion, a price-to-earnings ratio of 14.55 and a beta of 1.11. The stock has a 50 day moving average of $79.33 and a 200 day moving average of $76.24.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MDYV. Cetera Investment Advisers lifted its holdings in shares of SPDR S&P 400 Mid Cap Value ETF by 17.0% in the first quarter. Cetera Investment Advisers now owns 153,983 shares of the company’s stock worth $11,703,000 after acquiring an additional 22,341 shares during the last quarter. WealthPLAN Partners LLC grew its stake in shares of SPDR S&P 400 Mid Cap Value ETF by 77.5% during the first quarter. WealthPLAN Partners LLC now owns 4,899 shares of the company’s stock worth $372,000 after buying an additional 2,139 shares during the last quarter. Gradient Investments LLC grew its stake in shares of SPDR S&P 400 Mid Cap Value ETF by 1,259.7% during the second quarter. Gradient Investments LLC now owns 1,047 shares of the company’s stock worth $76,000 after buying an additional 970 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of SPDR S&P 400 Mid Cap Value ETF by 161.5% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 185,552 shares of the company’s stock worth $13,534,000 after buying an additional 114,596 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its stake in shares of SPDR S&P 400 Mid Cap Value ETF by 26.3% in the 2nd quarter. Commonwealth Equity Services LLC now owns 165,857 shares of the company’s stock valued at $12,098,000 after acquiring an additional 34,543 shares during the last quarter.

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.