Convergence Financial LLC Makes New $22.48 Million Investment in SPDR S&P 400 Mid Cap Growth ETF $MDYG

Convergence Financial LLC purchased a new stake in shares of SPDR S&P 400 Mid Cap Growth ETF (NYSEARCA:MDYG) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 215,100 shares of the company’s stock, valued at approximately $22,484,000. SPDR S&P 400 Mid Cap Growth ETF accounts for approximately 3.1% of Convergence Financial LLC’s portfolio, making the stock its 5th largest holding. Convergence Financial LLC owned approximately 0.80% of SPDR S&P 400 Mid Cap Growth ETF as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Carnegie Investment Counsel boosted its holdings in SPDR S&P 400 Mid Cap Growth ETF by 1.8% in the 1st quarter. Carnegie Investment Counsel now owns 5,729 shares of the company’s stock valued at $550,000 after purchasing an additional 101 shares during the period. KERR FINANCIAL PLANNING Corp grew its position in SPDR S&P 400 Mid Cap Growth ETF by 50.0% in the 1st quarter. KERR FINANCIAL PLANNING Corp now owns 342 shares of the company’s stock worth $34,000 after purchasing an additional 114 shares during the last quarter. JFS Wealth Advisors LLC increased its holdings in shares of SPDR S&P 400 Mid Cap Growth ETF by 28.2% during the 2nd quarter. JFS Wealth Advisors LLC now owns 518 shares of the company’s stock worth $58,000 after purchasing an additional 114 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of SPDR S&P 400 Mid Cap Growth ETF by 9.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,818 shares of the company’s stock worth $174,000 after purchasing an additional 151 shares during the period. Finally, Beam Wealth Advisors Inc. increased its holdings in shares of SPDR S&P 400 Mid Cap Growth ETF by 1.9% during the 1st quarter. Beam Wealth Advisors Inc. now owns 11,651 shares of the company’s stock worth $1,118,000 after purchasing an additional 220 shares during the period.

SPDR S&P 400 Mid Cap Growth ETF Stock Performance

Shares of MDYG opened at $104.01 on Thursday. The company has a 50-day simple moving average of $106.12 and a 200-day simple moving average of $104.44. The firm has a market capitalization 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 has a 52 week low of $87.09 and a 52 week high of $113.93.

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. 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.