Orion Portfolio Solutions LLC Trims Stake in SPDR S&P 400 Mid Cap Growth ETF

In a move that reflects adjustments in their investment strategies, Orion Portfolio Solutions LLC has scaled down its investment in the SPDR S&P 400 Mid Cap Growth ETF (NYSEARCA: MDYG). Following its latest 13F filing with the Securities and Exchange Commission (SEC) for the third quarter, the firm confirmed a 9.1% reduction in its holdings of MDYG. With the sale of 428 shares, Orion Portfolio Solutions now has a total of 4,284 shares in the mid-cap growth-oriented exchange-traded fund (ETF).

Market Position Update

As a result of these transactions, the value of Orion Portfolio Solutions LLC's stake in the SPDR S&P 400 Mid Cap Growth ETF amounted to approximately $296,000 by the close of the most recent quarter. This ETF is designed to track the performance of growth companies within the mid-cap range of the U.S. equity market, as defined by the S&P MidCap 400 Growth Index.

Investment Activity in MDYG

Orion Portfolio Solutions wasn't the only entity making notable changes in MDYG holdings. Other funds have also been active, with Portside Wealth Group LLC initiating a significant new position during the second quarter, valued at approximately $111,736,000. Stifel Financial Corp expanded its stake by 52.3% in the same quarter, bringing its total shares to 1,370,231 valued at roughly $98,182,000. Meanwhile, CI Private Wealth LLC made a new purchase in the fourth quarter worth near $19,000,000. Benjamin F. Edwards & Company Inc. boosted its holding by 45.1%, now owning 914,401 shares, while TIAA Trust National Association opened a new stake in the third quarter estimated at about $11,941,000.

Performance of MDYG

The ETF, trading as MDYG, witnessed a stable market opening at $75.93. Over the past twelve months, its valuation fluctuated between the low of $64.17 and the high of $76.75. Investors often look to moving averages to gauge performance, and MDYG's 50-day simple moving average stands at $73.72, with a 200-day simple moving average at $71.63. The ETF boasts a market capitalization of $1.98 billion, a price-to-earnings ratio of 12.21, and a beta of 1.09, indicating its volatility in relation to the broader market.

About SPDR S&P 400 Mid Cap Growth ETF

The SPDR S&P 400 Mid Cap Growth ETF aims to reflect the returns and characteristics of the S&P MidCap 400 Growth Index before expenses. This index gauges the performance specifically of the mid-cap growth sector in the U.S. equity market, including stocks with strong growth metrics such as sales growth, favorable earnings change to price, and momentum.

Orion, SPDR, MDYG