SPDR Portfolio MSCI Global Stock Market ETF (NYSEARCA:SPGM) Sees Large Volume Increase – Still a Buy?

SPDR Portfolio MSCI Global Stock Market ETF (NYSEARCA:SPGM) shares saw strong trading volume on Friday . 383,595 shares traded hands during mid-day trading, an increase of 292% from the previous session’s volume of 97,964 shares.The stock last traded at $66.00 and had previously closed at $65.82.

SPDR Portfolio MSCI Global Stock Market ETF Stock Performance

The stock has a market capitalization of $861.85 million, a P/E ratio of 19.77 and a beta of 0.95. The business has a 50 day simple moving average of $64.77 and a 200-day simple moving average of $63.59.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SPGM. Strategic Wealth Investment Group LLC boosted its stake in shares of SPDR Portfolio MSCI Global Stock Market ETF by 30.4% during the 4th quarter. Strategic Wealth Investment Group LLC now owns 11,503 shares of the company’s stock worth $728,000 after acquiring an additional 2,682 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of SPDR Portfolio MSCI Global Stock Market ETF by 37.1% during the third quarter. JPMorgan Chase & Co. now owns 11,357 shares of the company’s stock valued at $736,000 after purchasing an additional 3,074 shares during the last quarter. Finally, AdvisorNet Financial Inc acquired a new position in shares of SPDR Portfolio MSCI Global Stock Market ETF in the 4th quarter valued at $84,000.

About SPDR Portfolio MSCI Global Stock Market ETF

The SPDR Portfolio MSCI Global Stock Market ETF (SPGM) is an exchange-traded fund that is based on the MSCI AC World IMI index, a market-cap-weighted index of global stocks covering 99% of the developed and emerging markets capitalization. SPGM was launched on Feb 27, 2012 and is managed by State Street.