SPDR Portfolio S&P 400 Mid Cap ETF (NYSEARCA:SPMD) Reaches New 52-Week High – Here’s Why

Shares of SPDR Portfolio S&P 400 Mid Cap ETF (NYSEARCA:SPMD) hit a new 52-week high during trading on Tuesday . The company traded as high as $68.42 and last traded at $68.38, with a volume of 116996 shares. The stock had previously closed at $67.97.

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

The firm has a 50 day moving average price of $66.41 and a two-hundred day moving average price of $63.61. The company has a market capitalization of $18.89 billion, a price-to-earnings ratio of 4.79 and a beta of 1.01.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SPMD. Creative Planning raised its position in shares of SPDR Portfolio S&P 400 Mid Cap ETF by 5.9% in the 3rd quarter. Creative Planning now owns 87,966,062 shares of the company’s stock valued at $5,030,779,000 after purchasing an additional 4,903,905 shares in the last quarter. Auto Owners Insurance Co grew its position in shares of SPDR Portfolio S&P 400 Mid Cap ETF by 7,307.1% during the fourth quarter. Auto Owners Insurance Co now owns 77,033,600 shares of the company’s stock worth $4,461,016,000 after buying an additional 75,993,600 shares in the last quarter. LPL Financial LLC grew its position in shares of SPDR Portfolio S&P 400 Mid Cap ETF by 1.4% during the fourth quarter. LPL Financial LLC now owns 12,844,472 shares of the company’s stock worth $743,823,000 after buying an additional 173,911 shares in the last quarter. Morgan Stanley increased its stake in shares of SPDR Portfolio S&P 400 Mid Cap ETF by 208.0% in the fourth quarter. Morgan Stanley now owns 9,824,255 shares of the company’s stock worth $568,923,000 after buying an additional 6,634,293 shares during the last quarter. Finally, Valmark Advisers Inc. increased its stake in shares of SPDR Portfolio S&P 400 Mid Cap ETF by 2.5% in the first quarter. Valmark Advisers Inc. now owns 7,215,287 shares of the company’s stock worth $427,289,000 after buying an additional 173,551 shares during the last quarter. Hedge funds and other institutional investors own 61.70% of the company’s stock.

About SPDR Portfolio S&P 400 Mid Cap ETF

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.