Ledyard National Bank Reduces Stake in SPDR S&P MidCap 400 ETF Trust

Ledyard National Bank has reduced its investment in the SPDR S&P MidCap 400 ETF Trust (NYSEARCA:MDY) by 4.7% during the third quarter of the year. According to the latest documents filed with the Securities and Exchange Commission (SEC), the bank now holds 676 shares in this exchange-traded fund (ETF) after offloading 33 shares within the specified period. The value of these holdings amounted to approximately $385,000, as reported in Ledyard National Bank's most recent SEC filing.

Several other institutional investors have also made adjustments to their positions in the SPDR S&P MidCap 400 ETF Trust recently. For instance, Ridgewood Investments LLC acquired a new stake in the fund during the second quarter, valued at $25,000. Additionally, Ruedi Wealth Management Inc. secured a new position in the ETF in the first quarter, worth around $26,000. During the second quarter, Addison Advisors LLC also bought a new stake, valued at about $27,000, while DiNuzzo Private Wealth Inc. made a similar investment in the third quarter estimated at $28,000. Lastly, Chris Bulman Inc. purchased a new position in the ETF during the second quarter, valued at around $30,000.

Performance Overview of SPDR S&P MidCap 400 ETF Trust

As of Wednesday, the stock price of NYSEARCA MDY opened at $573.51. The ETF has a 50-day simple moving average of $562.09 and a 200-day simple moving average of $547.53. The market capitalization of SPDR S&P MidCap 400 ETF Trust stands at $22.67 billion, with a price-to-earnings (P/E) ratio of 15.70 and a beta of 1.09. Over the past year, the ETF has recorded a low of $424.22 and a high of $585.50.

About SPDR S&P MidCap 400 ETF Trust

The SPDR S&P MidCap 400 ETF Trust is an exchange-traded fund designed to mirror the price and yield performance of the S&P MidCap 400 Index. This index encompasses more than 7% of the total United States equities market and consists of companies that report four consecutive quarters of positive earnings, excluding any discontinued operations and extraordinary items.

Conclusion

This recent adjustment in Ledyard National Bank's holdings in the SPDR S&P MidCap 400 ETF Trust aligns with broader trends seen among institutional investors, indicating an evolving landscape in the ETF market.

investment, ETF, finance