Shares of the SPDR Portfolio MSCI Global Stock Market ETF (NYSEARCA:SPGM) experienced a significant increase in trading volume on Thursday, with approximately 423,473 shares changing hands. This figure marks a remarkable increase of 347% compared to the previous session’s volume of 94,789 shares. At the time of trading, the stock was priced at $76.1590, up from its previous close of $75.36.
The ETF, which has a market capitalization of $1.26 billion, also reported a price-to-earnings (P/E) ratio of 20.63 and a beta of 0.93. Its fifty-day moving average stands at $75.88, while the two-hundred-day moving average is $72.66.
Hedge Fund Activity and Market Sentiment
Recent trading activity reflects a growing interest from hedge funds in the SPDR Portfolio MSCI Global Stock Market ETF. Flow Traders U.S. LLC significantly increased its holdings by 179.5% during the second quarter, now owning 241,495 shares valued at approximately $16.7 million after acquiring an additional 155,095 shares in the last quarter.
Similarly, JPMorgan Chase & Co. raised its stake in the ETF by an impressive 640.5% during the same period, bringing its total to 99,002 shares worth around $6.8 million after purchasing an additional 85,632 shares.
In the third quarter, Ameriprise Financial Inc. grew its holdings by 42.2%, now owning 16,189 shares valued at approximately $1.2 million. Private Trust Co. NA and Acima Private Wealth LLC also increased their positions in the ETF by 24.9% and 14.6%, respectively.
About the SPDR Portfolio MSCI Global Stock Market ETF
The SPDR Portfolio MSCI Global Stock Market ETF is designed to track the MSCI AC World IMI Index, which covers 99% of the market capitalization in both developed and emerging markets. Launched on February 27, 2012, the ETF is managed by State Street.
Investors are keeping a close eye on this ETF as hedge funds continue to adjust their portfolios, indicating a rising confidence in its potential. As trading activity remains robust, market participants are left to ponder whether this momentum signals a favorable investment opportunity.
