SPDR Portfolio S&P 600 Small Cap ETF (NYSEARCA:SPSM) Share Price Breaks Above 50-Day Moving Average – Here’s Why

SPDR Portfolio S&P 600 Small Cap ETF (NYSEARCA:SPSM)’s stock price crossed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $54.59 and traded as high as $55.23. SPDR Portfolio S&P 600 Small Cap ETF shares last traded at $55.20, with a volume of 1,102,005 shares changing hands.

SPDR Portfolio S&P 600 Small Cap ETF Stock Performance

The business has a 50-day simple moving average of $54.59 and a 200 day simple moving average of $53.31. The firm has a market cap of $16.23 billion, a P/E ratio of 17.02 and a beta of 1.03.

Hedge Funds Weigh In On SPDR Portfolio S&P 600 Small Cap ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in SPSM. Valmark Advisers Inc. increased its position in SPDR Portfolio S&P 600 Small Cap ETF by 2.1% during the 1st quarter. Valmark Advisers Inc. now owns 5,412,325 shares of the company’s stock valued at $261,524,000 after purchasing an additional 109,719 shares during the period. Bank of America Corp DE raised its holdings in SPDR Portfolio S&P 600 Small Cap ETF by 2.3% in the 1st quarter. Bank of America Corp DE now owns 3,927,202 shares of the company’s stock worth $189,762,000 after purchasing an additional 86,868 shares in the last quarter. Wealthcare Advisory Partners LLC raised its holdings in SPDR Portfolio S&P 600 Small Cap ETF by 1.1% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 1,776,135 shares of the company’s stock worth $102,430,000 after purchasing an additional 19,008 shares in the last quarter. Cetera Investment Advisers raised its holdings in SPDR Portfolio S&P 600 Small Cap ETF by 4.8% in the 1st quarter. Cetera Investment Advisers now owns 1,402,122 shares of the company’s stock worth $67,751,000 after purchasing an additional 63,809 shares in the last quarter. Finally, Patriot Investment Management Group Inc. lifted its position in shares of SPDR Portfolio S&P 600 Small Cap ETF by 0.6% in the 3rd quarter. Patriot Investment Management Group Inc. now owns 838,842 shares of the company’s stock worth $44,341,000 after purchasing an additional 4,848 shares during the period.

About SPDR Portfolio S&P 600 Small Cap ETF

The SPDR Portfolio S&P 600 Small Cap ETF (SPSM) is an exchange-traded fund that is based on the S&P Small Cap 600 index, a market-cap-weighted index of US small-cap stocks selected by the S&P Committee. SPSM was launched on Jul 8, 2013 and is managed by State Street.