Eastern Bank Makes Significant Investment in SPDR S&P MidCap 400 ETF Trust

In the third quarter of the year, Eastern Bank announced the acquisition of a new stake in the SPDR S&P MidCap 400 ETF Trust (NYSEARCA:MDY). The bank purchased a total of 5,866 shares of the exchange-traded fund, which amounted to an investment valued at approximately $3.34 million.

In addition to Eastern Bank, several other institutional investors have also made changes to their holdings of the SPDR S&P MidCap 400 ETF Trust. For example, G&S Capital LLC increased its position by 2.4%, acquiring an additional 208 shares during the first quarter. This brought G&S Capital LLC's total shares to 8,963, with a value of about $4.99 million.

Revolve Wealth Partners LLC also expanded its investment in the ETF by 2.3%, raising its holdings to 4,033 shares worth around $2.24 million after purchasing an additional 91 shares. Another firm, S.A. Mason LLC, increased its stake by 7.0%, now owning 706 shares valued at approximately $393,000 following the addition of 46 shares.

Furthermore, Wealthcare Advisory Partners LLC bolstered its holdings in the ETF by 4.9% during the same quarter, which translated to 5,960 shares valued at about $3.32 million after buying an extra 277 shares. Cumberland Advisors Inc. also grew its position in the SPDR S&P MidCap 400 ETF Trust by 2.1%, with a total of 44,867 shares valued at approximately $24.96 million after acquiring 943 shares.

Performance Overview of SPDR S&P MidCap 400 ETF Trust

As of the latest trading session, shares of the SPDR S&P MidCap 400 ETF Trust opened at $573.51. The ETF boasts a market capitalization of $22.67 billion, a price-to-earnings (P/E) ratio of 15.70, and a beta value of 1.09. The 50-day moving average price is currently at $562.09, while the 200-day moving average stands at $547.53. The ETF has experienced a significant price range over the last year, reaching a low of $424.22 and a high of $585.50.

Understanding SPDR S&P MidCap 400 ETF Trust

The SPDR S&P MidCap 400 ETF is designed to track the performance of the S&P MidCap 400 Index, which represents a significant portion of the U.S. equities market, covering more than 7%. To be included in this index, companies must demonstrate four consecutive quarters of positive earnings, excluding any extraordinary items and discontinued operations.

Additional Insights

For those interested in understanding the current positions held by other investors in the SPDR S&P MidCap 400 ETF Trust, further detailed information and insights can be obtained from various financial news platforms.

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