Mid-cap SPDRs

Mid-cap SPDRs

This is the same as a SPDR except the indexit tracks is Standard&Poor's Mid-cap 400. This SPDR also trades on the AMEX, under the symbol MDY.

Mid-Cap SPDR

An exchange-traded fund that tracks the Standard and Poor's Midcap 400 Composite Price Index. The organization issuing the SPDR owns each of the stocks traded on the S&P Midcap Index in approximate ratio to their market capitalization. SPDR shares can be bought, sold, short-sold, traded on margin, and generally function as if they were stocks. Investors use midcap SPDRs (and indeed all exchange-traded funds) as a way to easily diversify their portfolios at relatively low cost. Investors also see the demand for midcap SPDRs as an indicator of which direction the market believes the S&P Midcap Index is going.
References in periodicals archive ?
Mid-Cap SPDRs, DIAMONDs, QQQs, and the Select Sector SPDRs, were all formed around 1998.
For example a unit of 50,000 shares is required to create Diamonds while a 25,000-share unit is required to create mid-cap SPDRs.
Created in 1995, the mid-cap SPDR tracks the S&P Mid-Cap 400 Index.

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