Convergence Financial LLC Makes New Investment in SPDR S&P 400 Mid Cap Growth ETF $MDYG

Convergence Financial LLC bought a new position in SPDR S&P 400 Mid Cap Growth ETF (NYSEARCA:MDYG) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 215,100 shares of the company’s stock, valued at approximately $22,484,000. SPDR S&P 400 Mid Cap Growth ETF accounts for 3.1% of Convergence Financial LLC’s investment portfolio, making the stock its 5th biggest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MDYG. Rodgers & Associates LTD acquired a new stake in SPDR S&P 400 Mid Cap Growth ETF during the third quarter worth $19,162,000. Private Advisor Group LLC raised its stake in shares of SPDR S&P 400 Mid Cap Growth ETF by 40.6% in the 1st quarter. Private Advisor Group LLC now owns 425,586 shares of the company’s stock valued at $40,839,000 after buying an additional 122,989 shares in the last quarter. Farther Finance Advisors LLC acquired a new position in shares of SPDR S&P 400 Mid Cap Growth ETF in the 3rd quarter valued at $10,784,000. Marathon Mission Inc. bought a new position in shares of SPDR S&P 400 Mid Cap Growth ETF during the 3rd quarter worth about $8,859,000. Finally, Royal Bank of Canada lifted its holdings in shares of SPDR S&P 400 Mid Cap Growth ETF by 100.6% during the 1st quarter. Royal Bank of Canada now owns 141,086 shares of the company’s stock worth $13,539,000 after acquiring an additional 70,755 shares during the period.

SPDR S&P 400 Mid Cap Growth ETF Stock Performance

Shares of SPDR S&P 400 Mid Cap Growth ETF stock opened at $104.01 on Thursday. The firm’s 50-day simple moving average is $106.12 and its 200-day simple moving average is $104.44. SPDR S&P 400 Mid Cap Growth ETF has a twelve month low of $87.09 and a twelve month high of $113.93. The firm has a market cap of $2.82 billion, a P/E ratio of 22.35 and a beta of 1.06.

SPDR S&P 400 Mid Cap Growth ETF Profile

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. 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 Capital Market with market capitalizations between $850 million and $3.8 billion.