Eastern Bank's Investment in SPDR S&P MidCap 400 ETF Trust

In the third quarter of the year, Eastern Bank made a notable move by purchasing a new position in the SPDR S&P MidCap 400 ETF Trust (NYSEARCA:MDY). According to reports, Eastern Bank acquired 5,866 shares of this exchange traded fund (ETF), with an estimated value of approximately $3,342,000.

This investment comes as part of a broader trend, where several institutional investors have also recently adjusted their holdings of MDY. For example, G&S Capital LLC expanded its stake by 2.4% in the first quarter and now holds 8,963 shares valued at $4,987,000 after adding 208 shares during that period.

An additional institutional player, Revolve Wealth Partners LLC, increased its investment in the SPDR S&P MidCap 400 ETF Trust by 2.3%, bringing its total to 4,033 shares, amounting to $2,244,000, after acquiring 91 additional shares. Similarly, S.A. Mason LLC has grown its holdings by 7.0%, now owning 706 shares worth approximately $393,000 after a purchase of 46 shares.

Wealthcare Advisory Partners LLC also saw a growth of 4.9% in its holdings, totaling 5,960 shares valued at $3,316,000 after obtaining 277 more shares. Lastly, Cumberland Advisors Inc. increased its position by 2.1% during the same timeframe, now holding 44,867 shares valued at $24,964,000 after buying an additional 943 shares.

Performance of SPDR S&P MidCap 400 ETF Trust

The SPDR S&P MidCap 400 ETF Trust's share price began trading at $573.51 recently. This ETF holds a market capitalization of approximately $22.67 billion, showing a P/E ratio of 15.70 and a beta of 1.09. The company has a 50-day moving average price of $562.09 and a 200-day moving average price of $547.53. Notably, the ETF's 52-week low is $424.22 while its high reaches up to $585.50.

About SPDR S&P MidCap 400 ETF Trust

The SPDR S&P MidCap 400 ETF Trust is a well-known exchange traded fund that aims to mirror the price and yield performance of the S&P MidCap 400 Index. This index represents over 7% of the total U.S. equities market and is part of a group of indices developed by S&P. To be included in the index, companies must demonstrate four consecutive quarters of positive earnings, excluding discontinued operations and extraordinary items.

Eastern Bank, Investment, ETF