Eastern Bank Invests $3.34 Million in SPDR S&P MidCap 400 ETF Trust

Eastern Bank has made a significant investment in the SPDR S&P MidCap 400 ETF Trust (NYSEARCA:MDY), according to recent reports. In the third quarter, Eastern Bank purchased 5,866 shares of this exchange-traded fund, which amounted to approximately $3,342,000.

Other institutional investors have also made adjustments to their holdings in MDY. For instance, G&S Capital LLC increased its position by 2.4% during the first quarter, bringing its total ownership to 8,963 shares worth $4,987,000 after acquiring an additional 208 shares. Similarly, Revolve Wealth Partners LLC expanded its stake by 2.3%, owning 4,033 shares valued at $2,244,000 following the purchase of 91 extra shares.

S.A. Mason LLC also grew its holdings by 7.0% during the same period, now owning 706 shares valued at $393,000 after adding 46 shares. Wealthcare Advisory Partners LLC increased their ownership by 4.9%, totaling 5,960 shares at a value of $3,316,000 after acquiring 277 more shares. Finally, Cumberland Advisors Inc. raised its interest in MDY by 2.1%, owning 44,867 shares worth approximately $24,964,000 after buying an additional 943 shares.

SPDR S&P MidCap 400 ETF Trust Performance

As of Wednesday, shares of NYSEARCA:MDY were trading at $573.51. The ETF has a market capitalization of $22.67 billion, a price-to-earnings ratio of 15.70, and a beta of 1.09. Over the last 50 days, its moving average price has been $562.09, and the 200-day moving average stands at $547.53. The ETF’s performance has seen a 52-week low of $424.22 and a high of $585.50.

About SPDR S&P MidCap 400 ETF Trust

This exchange-traded fund aims to replicate the performance of the S&P MidCap 400 Index, which covers more than 7% of the U.S. equities market. It is part of a collection of indices maintained by the S&P. To be included in the index, companies must exhibit four consecutive quarters of positive earnings, excluding any discontinued operations and extraordinary items.

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